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The US's Strategy on Ukraine
I think China believes it can sort of have its cake and eat it too, that it can strain the relations with Russia. I do think though, the longer the conflict in Ukraine lasts, the more tensions it will put on China to try to balance all these different costs. So right now, I actually think China is a slightly better position, diplomatically speaking, than say six months ago. But over time, we don't see much progress.