Within days of meeting US President Donald Trump, Chinese President Xi Jinping hosted Russian President Vladimir Putin, with Beijing entering both summits from a position of relative strength. Both the US and Russia are increasingly constrained by prolonged geopolitical confrontations that have reinforced China’s relative leverage and remain deeply economically intertwined with Beijing through different dynamics. For Russia, strategic dependence on China is growing amid Western isolation. For the US, decades of market-driven integration have coupled economic ties, despite intensifying strategic competition. Neither summit produced major economic or diplomatic breakthroughs, but rather underscored Beijing’s goal to preserve stable relations, maintain its strategic flexibility, and present itself at the center of global diplomacy. For multinational businesses, this points to a global environment in which outright economic rupture remains unlikely, but exposure to overlapping regulatory,