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.

President Stubb observes that China, initially "baffled" by Russia's invasion of Ukraine, has transitioned to a position of dominance. Russia is now in a "vassal type of a relationship," completely dependent on China for financial support and dual-use materials, fundamentally altering the power dynamic between the two nations.

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.

The conflict is not just regional but a proxy war between two ideologies: Western democracies versus an alliance of totalitarian states (Russia, Iran, North Korea, China). Non-aligned nations like India and Brazil are watching to see which system proves more resilient before choosing a side.

Many developing countries view Russia's invasion of Ukraine, while illegal, as an inevitable check on decades of unchecked US power and NATO expansion. Their memory of the "unipolar moment" is one of American imposition, making them quietly support a rebalancing of global power.

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.

By hosting both Trump and Putin consecutively, Xi Jinping has reframed the "G2" concept. Instead of a fixed US-China partnership, China is now positioned as the central hub, capable of forming a "G2" with either the US or Russia, making Beijing the indispensable arbiter of global power dynamics.

By orchestrating back-to-back summits with Donald Trump and Vladimir Putin, China's Xi Jinping demonstrates that Beijing now holds a pivotal position, having better relations with both leaders than they have with each other. This strategic scheduling aims to create a more Sino-centric global order.