This month President Putin of Russia was the star guest at the opening of the Winter Olympics in Beijing. But his trip to China was not just about showing support for the host country. He and his Chinese counterpart Xi Jinping issued an unexpectedly long statement pledging friendship with 'no limits' and no 'forbidden areas of co-operation'. Beijing and Moscow have maintained a stable relationship since the 2000s, a far cry from the bitter days of the Sino-Soviet split during the Cold War.

China has increased its gas imports from Russia and Russia has in turn allowed more Belt and Road investments in its territory. The two conduct joint military exercises, co-operate in exploring Arctic sea routes, and support each other on the world stage. Now, breaking with its previous ambiguity, China has expressed support for Russia's concerns over the potential future expansion of Nato, giving Moscow a significant boost in its border standoff with Ukraine. Russia meanwhile backs China's claims over Taiwan. Even though no formal alliance has been announced, experts see the new Sino-Russia pact as a clear challenge to the United States.

So how important is the agreement between Russia and China and what are the countries' longer term goals? Does Russia risk being dominated by China, which is soon to become the biggest economy in the world? And how will the evolving relationship between the two powers impact the future of the democracy-based world order envisioned by President Biden? Ritula Shah is joined by a panel of experts.

Producers: Junaid Ahmed and Paul Schuster