Facing economic threats of its own, Beijing is less likely to back Moscow’s war in Ukraine
For all the focus on how Russia’s economy is in trouble, isolated and battered by Western sanctions for its war on Ukraine, its most important ally, China faces serious tremors as well. No other major country is showing deeper sinkholes of economic trouble than China.
After building for months, financial stress emanating from the Chinese property sector has blown out to unprecedented levels in recent weeks, destabilising an already brittle economy, and making it less likely that Beijing will aggressively support Russia’s ambitions in Ukraine.
After building for months, financial stress emanating from the Chinese property sector has blown out to unprecedented levels in recent weeks, destabilising an already brittle economy, and making it less likely that Beijing will aggressively support Russia’s ambitions in Ukraine.