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In the analysis of newly-shaping post-cold war international political economic order, especially the changing security environments of Northeast Asian region, ‘the China's rise’ or ‘China threat’ has been generally considered as one of the most critical factor. This study includes three parts; ① to examine the reformation of China's global strategy and national security policies after the end of cold war; ② to analyze the chinese scholars' views on the changing international relations after September 11th terrorism in the United States and its implications for international security; and ③ to clarify the Chinese perspectives and basic policy positions on the Northeast Asian regional security and the peace on Korean peninsula. The conclusion is that China is now firmly committed to peace and development strategy, however, it would not be a status quo power with it's economic success and search for the hegemony in the long run. Future China threat will be one of the biggest challenge to Korea's national strategy of 21th Century.