This chapter provides an overview of China's new economic diplomacy and the interaction between economic and political statecraft under globalization. Although in the past China adopted a ‘politics first’ approach to economic relations, now the economic priorities of China's development take clear precedence. This has three main implications. The first is that, under the ‘going out’ strategy, China has much more in the way of society-society relations than in the past. Second, in geographical terms, China is increasingly focused on regional integration and new forms of developing world cooperation. Third, China's diplomacy is increasingly pluralistic: both meeting obligations under existing rules and regimes but gradually reforming these in its own interests.