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Despite 'no-limits partnership' rhetoric, China's relationship with Russia is highly pragmatic. If forced to choose between Russia and its largest trading partner, Europe, Beijing would choose Europe 'every single time.' The alliance persists because Europe has not yet imposed significant costs.

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China is predicted to avoid a direct war with the US by playing both sides. It will likely strike transactional economic deals with America to protect its interests while simultaneously providing financial support to Russia, maintaining a non-aligned but influential position.

Despite the public "bromance" between leaders, China is exploiting Russia's economic isolation by demanding steep discounts on natural gas for the Power of Siberia 2 pipeline. This pricing dispute reveals the true, unequal power dynamic in their supposedly "no limits" partnership.

China's renewed commitment to the previously stalled Power of Siberia 2 gas pipeline is a direct geopolitical response to the U.S. using trade and energy as weapons. This move signals a strategic pivot to reduce its energy dependency on the Western Hemisphere amid escalating trade tensions.

China aims for maximum self-sufficiency while simultaneously encouraging foreign economic dependence on its market. This calculated strategy creates powerful geopolitical leverage, as countries like Germany become hesitant to challenge China for fear of damaging their significant commercial interests.

While China gains access to resources, its de facto alliance with Russia is a long-term liability. It damages relations with Europe and risks entanglement in conflicts where China has little interest, driven by Russia's own quarrels and irresponsible international behavior.

According to the Bank of Finland's governor, China's backing of Russia's aggression has fundamentally altered European perceptions. Europeans now view China as an ally of a nation actively trying to undermine their freedoms, creating a significant obstacle to deeper economic and political ties.

The strengthening diplomatic, economic, and military ties between Russia and China since the Ukraine invasion have created a powerful "axis of authoritarianism." This bloc, combining China's economic might with Russia's resources, represents a formidable and unified adversary to the US and Europe.

Russia, as a commodity superpower, profits from the instability that drives up oil and gas prices. Conversely, China's economic model depends on integrated global markets and trade. This fundamental difference in core interests presents a strategic opportunity for the West to drive a wedge between the two powers.

China is the biggest winner of the conflict, watching its strategic rival, Russia, "bleed itself away" while remaining bogged down. It also profits financially, as 90% of the components for Ukraine's seven million annual drones are sourced from China, showcasing its critical role in the global supply chain.

China is playing a dual game: using missile tests to deter geopolitical alliances like the Quad, while simultaneously deepening its economic indispensability through a massive trade surplus with Europe. This strategy aims to maintain its influence by being too threatening to challenge militarily and too integrated to sanction economically.