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Russia lacks troops, ammunition for major offensive in Ukraine, NATO official tells Reuters
(kyivindependent.com)
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It'd probably be bad in terms of global stability and whatnot, but it'd still get a chuckle out of me if China just went "Well, It's free real estate" and invaded russia.
The question is if they actually need more land or just more resources. I imagine they already get the latter for dirt cheap, so why bother actually invading.