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This article describes the motives behind the making of the current status-quo and risk-averse Chinese foreign policy. It identifies a three-P incentive structure that is based on the political preservation of the CCP regime, China's economic prosperity, and Beijing's pursuit of power and prestige. These three motives are stable and overlapping, featuring Taiwan and the relationship with the United States as the key issues. Beijing is expected to be motivated by these peculiar motives over the next two decades; but new internal and external developments may greatly change these motives and generate new impetus for China's foreign policy. Although the official line in Beijing is still the mild ‘peaceful development’, after a fling with the more majestic idea of ‘peaceful rise’, the rise of nationalist emotions and demands in the PRC continues. [ABSTRACT FROM AUTHOR]