Economically Russia is on a very short time scale, they have to win this in a hurry, they may be less economically tied to the rest of the worlds economy but they are still, like every modern economy utterly reliant on imports, and without the ability to pay for anything even China is going to shut them off.
China is not Putin's ally, they may have some mutual objectives but China is still more concerned about the west than Russia, if Russia is struggling they will cut them loose and pretend to be against this all along, their abstention at the UN was a clear indication they are happy to leave Putin to his fate
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