China may see the US as an enemy, or at least a competitor, but it would not be able to project power or be recognised as a global player if it was not for the massive US investments in the country. In the end, when push comes to shove, China would rather align itself with the US rather than Russia so the scenario illustrated by Budanov's cake showing Russian Federation broken up into smaller pieces may not be that unrealistic:
https://x.com/eeldenden/status/1610689686271397922
The decision is in Putin's hands and if he plays stupid games, he will win all the stupid prizes.