He is watching China grow ever since it adopted State Capitalism through Deng Xiaopeng after Mao passed on. This has made China rich while Russia stayed pretty much the same in many ways. Democracy and Capitalism weren't allowed to thrive in Russia the way Capitalism was allowed to thrive in China (at least in the form of STATE Capitalism) which is completely different than capitalism in the rest of the world.
So, what is strange about the alliance between China and Russia is that China is the biggest threat to Russia by far not the Western powers at all.
However, Putin likely has to show he's tough by threatening Western powers with the invasion of Ukraine.
However, if he actually does this it will make Russia so very much weaker economically than it is now.
The only things Russia has going for it right now are Oil and nuclear weapons wielded by Putin the way Putin has economically strangled through control the Russian Economy.
So, this is what I think is really going on:
Putin is scared of China and what China is doing. So, Putin wants to look powerful to China. So, what better way to look powerful than to threaten the whole world with a war on Ukraine. This then pisses off China because of the Olympics but also might help China sneak an attack on Taiwan in the meantime.
So, for Putin this is a win win situation. For China it's a mixed bag.
But for the rest of the world it is western democratic powers aligning together against Russia and Putin because threatening to go to war in Ukraine is the same thing in many ways as actually going to war
in Ukraine. To the rest of the world to threaten something like this is pretty much the same as doing it.
In other words, that nation likely won't be trusted again whether they follow through war or not.
If someone spent weeks or months telling you they were going to shoot you, would you ever trust that person again?
No. You wouldn't.
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