The past sixty-odd years have witnessed a joint learning process (both within and outside China) regarding the economic transformations that have been taking place in China and other countries in the Southern Hemisphere. Ever since China began to open up, its economy has increased roughly fifty-fold. The growing power China wields in the international governance system is based on the country’s policies of economic modernization. In short, a “going global strategy” that started out with a combination of exports, investments and gradual liberalization of the country’s markets and ultimately led to China’s accession to the WTO in 2001 and has led to China’s prominence in the world of Development Cooperation. This paper seeks to examine and analyze China’s development cooperation strategy in general and its role (including the potential role China can play in the near future) with respect to South-South Cooperation in particular.