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A nation's materialistic capacity can elicit admiration or animosity among foreign audiences. However, the mechanism by which this powerful image translates into favorability or unfavorability remains shrouded in mystery. In this paper, we delve into the case of China to investigate how the country's growing economic power influences its national image. Specifically, we examine how the evaluation of China's economic influence by people in other countries shapes their perception of China's economic threat, with a particular emphasis on favorability toward China as a moderating factor. Utilizing data from Pew's Global Attitudes Survey (2018-2023), this study conducts a comprehensive pooled cross-sectional analysis of responses from 71,648 participants across 27 countries. The findings reveal that as people's assessment of China's economic influence increases, their favorability toward China also rises. Simultaneously, however, their perception of China as a threat intensifies. Furthermore, through the construction of an interaction model, the study identifies that individuals with lower favorability toward China are more likely to heighten their perceptions of China as a threat as their assessment of China's economic influence grows. This suggests that value-oriented factors play a crucial role in determining the direction in which material power transforms into threat perception.