A number of significant events in 2008-2009, such as the Russia-Georgia conflict, the Beijing Olympics, the global financial crisis, the continuing threat of international terrorism and the worldwide spread of the H1N1 virus, may herald the close of the post-Cold War era. A new epoch is dawning, characterized by the collective rise of emerging powers and by increased global cooperation in response to the common concerns of the planet. America, Europe, Japan, Russia, India, Australia and other world powers are contemplating new strategic options to meet these changing circumstances. As a major driving force behind this phenomenon, China faces pressures for self-change and global change at the same time. It is obviously a task more formidable than that confronting the rest of the world. It requires China to redefine its role in the new era and make its strategic choices more rational and multi-directional in nature.