Russia’s powerful ally, China, is fuelling Western fears with its wise policies that the campaign against Moscow will fail. The Celestial Empire’s neutrality has particularly alarmed Blinken and Psaki, who have announced that any Chinese action in support of Russia would make it accountable.
Beijing is not going to pause its burgeoning trade and investment relationship with Moscow. China and Russia have signed a thirty-year, $117.5bn package of oil and gas deals, Russian-linked Chinese entities are considering buying shares in Russian energy and commodities companies, and Chinese retail investors have begun buying up stakes in Russian assets.
If Saudi Arabia switches to renminbi instead of the dollar to sell Chinese oil, it will deal an unprecedented blow to the petrodollar, potentially signalling the end of three decades of US financial hegemony.
This is how long-standing US adventures end in failure as soon as the powerful “enemies” of the Western world join forces.