After the new immigration laws that came into force in the beginning of 2007, Chinese merchants in the Russian Far East were forced to leave, and local economy was significantly impacted as well. The fears of ”Yellow Peril” obviously can explain such various paradoxes-Russia cut off its relationship with Chinese labor resource. This thesis contends that Russian Far East's ”Yellow Peril” is a gross exaggeration based on unfounded assumptions, and a myth emerged from several related dimensions. As the Russian foreign strategy was uncertain in the changing international context, ”Yellow Peril” acquired a growing room for revival and spread, and the alienation lurking between central and peripheral regions of Russia was triggered. It strengthened the local trait and its hesitation in economic development as well. It not only resulted in the vision conflict between peripheral and central, but also led to the disagreement of perception between their developmental strategies. Under the intertwined restrictions of international and domestic structures, the so called ”Yellow Peril” then reformed.