With war raging in Ukraine, China’s annual “Two Sessions” convey an image of a country in denial. As the Communist Party and its advisory body gather in Beijing this month, there has been little or no mention of a seismic disruption in the world order – an omission that is all the more glaring in view of China’s deep-rooted sense of its unique place in history. With its unabashed great power aspirations, modern China may well be at a decisive juncture.

History’s turning points are rarely evident with great clarity. But the February 4 joint statement of Russian President Vladimir Putin and Chinese President Xi Jinping as the Winter Olympics opened in Beijing may be an exception – signaling a new turning point in a new Cold War.

The strategic benefit for China and Russia to maintain good relations has never been more apparent. A successful Sino-Russian foreign policy push in Ukraine and Taiwan would certainly shock the U.S. and Europe.

The unfolding situation in Bosnia and Herzegovina has caught the eyes of the international community, but the West making China and Russia the boogeymen behind the crisis is a thin facade for Eastern Europe’s own tribulations and apprehension to Western establishments.

Speaking with a common voice, the nuclear powerhouses have created a possible new starting point from which they can reconfigure their relationships, enhance global strategic stability and avoid war.

The year 2022 will mark 50 years since US President Richard Nixon traveled to China to meet with Communist Party of China Chairman Mao Zedong and Chinese Premier Zhou Enlai – a major step toward restoring relations after decades of estrangement and hostility. A half-century later, the progress they launched has been all but lost, and US President Joe Biden is partly to blame.

China and Russia may be forced to seek a new systemic equilibrium, with the result being two international camps. This could lead to a new cold war and subject other nations to unpredictable security costs.

Russia’s influence once stretched from the edge of Western Europe to the battlefields of Vietnam. Surpassed economically by the West and China, Russian foreign policy sees opportunity in Southeast Asia to restore its global reach.

Relations will not move toward a military alliance because, at the core, is a shared understanding forged through many strategic interactions. The two countries share similar basic judgments about international relations and U.S. influence.

The United States wants to alienate the two countries. Russia will not fully pivot to China, but it hopes to walk a fine line to maximize its interests. With the help of Europe, the U.S. may be able to prevent Russia from undermining the grand strategy of containing China.