The only thing Russia will bomb is its own economy.
Putin doesn't cares about the Russian economy. On the other hand what will happen to the European / American economies once crude hits $250 a barrel? And from where the EU will get half of its natural gas?
Not really, they can sustain themselves during a period of time, even without EU/US buying stuff from them. Meanwhile, EU won't have natural gas and everyone over here will get screwed.
They can also happily dump their US Dollar reserves, and stop using it as a reserve currency. That would cause the US Dollar to collapse, and hopefully, they will use BTC as an alternative and BTC will skyrocket! xD
Don't you believe it. and yer leavin' the screaming Chinese out of it.
You are overestimating the Chinese. The Chinese Armed Forces might rank #4 or #5 in the world, but as far as the nukes are concerned, they are far behind the superpowers. The reasons are:
1. Not enough high-grade Uranium
2. Technology is not advanced
3. ICBMs are not very capable.
If countries that are against China, such as USA, Vietnam, Japan, Philippines and many others declare war on China at the same time, they can't really do much. All they can do is ask for help from Russia and North Korea, and escalate it into a WW3, but China will get bombarded anyway.
However, China's original strategy was to have as large of a population as possible, so that after a nuclear war, thousands of US people and EU people will have to face millions of Chinese. A bit exaggerated, but the original plan was something like that. They switched to the one-child policy after Mao Zedong realized that if the population continued to grow, it wouldn't be sustainable at all.