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The article is devoted to the issue of the change of China's foreign trade policy and its position in the world economy. The global economic crisis highlighted the new trends in the global economic development, bringing the economies of the newly industrialized countries to the leading positions and thus heralding changes in the international political arena. The United States, Western European countries and Japan, which after the end of the Cold War were the most economically advanced countries in the world, faced the prospect of losing their influence on the global financial and economic system and losing control over the distribution of the global financial flows. It is emerging China which challenges the US global economic hegemony and advocates multipolarity and trade openness. China's foreign trade policy is getting increasingly politicized and serves as an instrument of the foreign policy strategy of the Chinese government. The article is devoted to the issue of the change of China's foreign trade policy and its position in the world economy. The global economic crisis highlighted the new trends in the global economic development, bringing the economies of the newly industrialized countries to the leading positions and thus heralding changes in the international political arena. The United States, Western European countries and Japan, which after the end of the Cold War were the most economically advanced countries in the world, faced the prospect of losing their influence on the global financial and economic system and losing control over the distribution of the global financial flows. It is emerging China which challenges the US global economic hegemony and advocates multipolarity and trade openness. China's foreign trade policy is getting increasingly politicized and serves as an instrument of the foreign policy strategy of the Chinese government. [ABSTRACT FROM AUTHOR]