~
How is China playing this?
As you can see, China is nothing but happy about this, as they are watching two potential enemies erode themselves and testing their strength. Lots of lessons will be learnt on the handling of this crisis and I would not say that Europe and Democracies are playing a great role in terms of intimidation, yet at least is managing to stay reasonably united.
China is supporting Russia in this encounter and they are the biggest importers of oil and natural resources from Russia and they have a good relationship, even today during United Nations Security Council China, India and the United Arab Emirates were absent from voting against Russia.
I am not sure whether China is having any other motive but one thing is clear is that US will talk a big game plan if Russia is to invade and yet they will not do anything. To be frank i never expected this invasion and how this will end is to be seen.