As you can see, China is nothing but happy about this, as they are watching two potential enemies erode themselves and testing their strength.
Well its one of the art of war though "the enemy of my enemy is my friend" so yeah China will be enjoying all of this but depending on how Biden will response on this because Biden now hold the main button for a potential world war 3. If biden decided to strike hard then China as well North Korea (potentially) will have a reason on joining this war thus making the other member of NATO to join as well
Ukraine will be taking devastating effect depending on how this goes but both party are wrong in this case. Both Biden and Putin are just sly old dogs that wants to go to war (and invade Ukraine) for their own personal reasons