Economic sanctions against Russia have laid bare the limits of Western-controlled financial infrastructure, and may have exposed some misguided preconceptions about how the global economy is evaluated.

Europe’s fear, exacerbated by heavy dependence on Russia for energy, has been exposed more clearly by the conflict. Along with other factors, the fear is likely to result in a stricter and more selective EU approach to China.

The Russia-Ukraine War is driving global change in both the economic and security domains. China and the United States will face a different world than existed before the Russian military operation that began on February 24.

The international credibility of the United States has been thrown into question. Failure to deliver on promises and various signs of weakness will diminish trust in the U.S. by its allies, thus dampening its appeal and leadership.

Russian President Vladimir Putin thought he could quickly capture Kyiv and replace Ukraine’s government. Whether he was misled by poor intelligence or by his own fantasies about history, his “smash and grab” failed in the face of effective Ukrainian resistance. He then turned to a brutal bombardment of cities like Mariupol and Kharkiv to terrorize the civilian population into submission – as he had previously done in Grozny and Aleppo. The tragic upshot is that Ukraine’s heroic resistance has been accompanied by increasing civilian suffering.

As the global community turns against an increasingly isolated Russia, China’s silence on the topic becomes more easily interpreted as support for Putin’s war. The untenable stance will be sure to drive more friction between the West and China and puts China’s foreign interests in further jeopardy.

While the issue is complex for China and the EU, one attainable step would be to cooperate on humanitarian relief for Ukraine — delivering medical and sanitary supplies. They should also press for a cease-fire.

Fast-moving events are forcing the United States to adopt a more cooperative posture toward China, whose help it needs to meet the expectations of the international community. Cooperation has assumed increasing real-world importance.

George Canning, who presided over the British foreign policy in the early nineteenth century, once famously said, “Europe's domain extends to the shores of the Atlantic, England’s begins there.”

Now that the Western powers have imposed sweeping economic and financial sanctions on Russia following its invasion of Ukraine, many are asking whether China’s non-participation will undermine their effectiveness. One should also ask whether the rich countries can do more for the poor people in many developing countries who are the collateral damage of the war and the sanctions.