ABSTRACT
This chapter sheds light on Hu Jintao's economic statecraft (2002–2012), tracing the origins of China's new economic statecraft. During Hu Jintao's tenure, China's GDP grew from being ranked 6th in 2002 to 2nd in 2010, surpassing Japan. However, Hu Jintao's economic statecraft still reflected the strategies of a developing country, emphasizing economic growth. For Hu, the primary task of China's diplomacy during the Global Financial Crisis in 2008 was to support China's economic growth. In other words, China's economic statecraft aimed to use diplomacy to serve its economy. This approach is a salient feature of the economic statecraft of developing countries. Post-2008, Hu and his ministers introduced new initiatives focused on global economic governance, but these achieved very limited success. Hu's tenure laid the groundwork for the emergence of China's new economic statecraft under Xi Jinping's leadership.
