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Why China can't bail out Putin's economy

Published Tue, Mar 8, 2022 · 09:50 PM

IN deciding to invade Ukraine, Russian President Vladimir Putin clearly misjudged everything. He had an exaggerated view of his own nation's military might; my previous description of Russia as a Potemkin superpower, with far less strength than meets the eye, looks even truer now. He vastly underrated Ukrainian morale and military prowess, and failed to anticipate the resolve of democratic governments - especially, although not only, the Biden administration, which, in case you have not noticed, has done a remarkable job on everything from arming Ukraine to rallying the West around financial sanctions.

I cannot add anything to the discussion of the war itself, although I will note that much of the commentary I have been reading says that Russian forces are regrouping and will resume large-scale advances in a day or two - and has been saying that, day after day, for more than a week.

What I think I can add, however, is some analysis of the effects of sanctions, and in particular an answer to one question I keep being asked: Can China, by offering itself as an alternative trading partner, bail out Putin's economy?

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