Neither obviously. I'd rather go all in on european countries and suggest doing a mineral/rebuilding deal with them. Maybe even suck up to Erdogan and ponder his ego.
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That said, it would align with China's investment/infrastructure-based diplomacy. China is also aiming to use the opportunity to improve its relationship with the EU. And the move would hinder both US and Russia's agendas.
That said, no military support would ever be received from China
I do not doubt that at all, don't get me wrong! I'm more concerned about a possible chokehold China could have Ukraine in at some point, be it in negotiations "now" or down the line due to significant chinese infrastructure in Ukraine.
This is why EU integration would be so important. Also, noone says China would need to invest a lot. Keeping rare minerals is short supply is a card on its own.
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That said, no military support would ever be received from China