China Needs Russia in the Fight
Chinese Foreign Minister Wang Yi reportedly told EU diplomat Kaja Kallas in Brussels in July 2025 that China could not afford a Russian defeat in Ukraine; the exchange was omitted from China's official account. The article states that China has become the principal market for Russian hydrocarbons and supplies controlled dual-use exports and components, while Russia retains advantages in military technologies including nuclear attack submarine propulsion, hypersonics and UAV design. It adds that the continuation of the Ukraine war benefits Beijing by keeping the United States engaged in Europe, whereas an outright Russian victory would reduce Moscow's need to collaborate with Beijing.
Why it matters: This matters for geoeconomics because the Sino-Russian energy trade and dual-use exports give Beijing leverage while Russia's military technologies preserve its bargaining power.