In the wake of the end of the Cold War, the West made all kinds of projections about China’s relations with the outside world. Realist scholars forecasted a war between China and the United States on the basis of their theories of the balance and transfer of power, believing that China was bound to adopt policies to counterbalance the United States. Western scholars professing liberalism either envisioned an eventually Westernized China that copied the Western political system as a result of economic marketization, or ruled out the possibility of China’s integration into a West-dominated international community due to its own ideology and cultural traditions. However, China’s diplomatic practice in the past three decades since the beginning of the reform and opening up defies predictions by any of the mainstream Western theories mentioned above. China not only repudiated the Cold War paradigm between the US and the Soviet Union, but also did not change its identity as the liberalists had expected. On the contrary, China’s diplomacy, in terms of its objectives, identity and behaviors, has displayed an overall feature of the “Golden Mean”, fully embodying balance, practicality and correlativeness with focus on the changes and links of issues.