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 Russia-Ukraine war was not warranted. Ukrainians despair for peace. Russia needs security. China offers development. But the U.S., NATO and the far-right Ukrainian paramilitaries seek something very different.

As the world watches the conflict in Ukraine unfold, observers have quickly drawn up comparisons to China in relation to security and expansionist ideals. A careful examination of the decades leading up to the current fiasco is needed to show the truth of how we arrived where we are today.

On the night of February 21, the Ukraine crisis further escalated. Russian President Vladimir Putin delivered a speech and signed a legislation acknowledging the “independence” of the Donetsk and Luhansk republics in east Ukraine, and announced sending in troops for “peacekeeping” there. The US, UK, France and EU all strongly condemned, and came up with plans of sanctions.

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.

Different security concepts held by Russia, Europe and the United States lie at the core of the crisis and won’t be easy to reconcile. As America promotes fear of an imminent invasion, Russia has remained poised, and Europe — which has ceded its security to the U.S. —simply hopes for the best.

Though it would be an exaggeration to say another Cold War is occurring between the U.S. and Russia, their relationship has indeed descended to a new low because of the worsening situation in Ukraine. Yin Chengde posits that the locus of tension is in each sides’ challenge for influence in Ukraine, while China believes it should be solved through political and diplomatic means.

A conflict of sovereignty and identity in Ukraine has drawn speculation as to China’s role in mediation. Despite the ongoing dilemma, China has remained impartial in the matter, repeatedly appealing to all relevant parties to respect International Law as well as the basic norms governing international relations; Ukraine and Russia must settle the dispute through dialogue to maintain peace in the region.

China and US should deepen their cooperation and coordination in helping other countries to find a more sustainable development model, thus showing the world that their ideological differences can be mutually complementary rather than only contradictory.

As U.S. relations with Russia continue to deteriorate, Russia has turned to China in search of a regional ally that can counterbalance the U.S.-led NATO bloc. Now, Ted Galen Carpenter explains how China has two foreign policy objectives at risk due to the increased tensions.