The Chinese economy is faltering, the business sector is more indebted than ever, the fertility rate (1.702) remains below replacement level, the population is ageing, and the benefit of cheap labour is eroding. China’s debt-to-GDP ratio (US$27 trillion) is 159 percent. However, China’s objective has been to reclaim its former glory by controlling Asia in the short term and the rest of the globe in the long run. The Russian invasion of Ukraine and the western world’s response have introduced a new dimension to the Indo-Pacific power struggle. China may be emboldened by the western world’s reluctance to intervene directly in the Ukrainian situation. India would need to tread carefully and traverse the rough waters in this new geopolitical context.China’s rise will continue to be a source of contention for states in the Indo-Pacific and beyond.