Yep. The major crisis for Russia is the decline is concentrated in the already empty east. There is now only about 30 million Russians across that vast territory.
Long term, expect these to be the new border in Asia:
Much of the Russian landmass is uninhabitable. The Chinese may be able to take over parts of the temperate landmass, but much of the indigenous population therein are accustomed to the cold and could probably live out their days in the wastes of Siberia without much concern from southern armies.
China has a huge demographic decline also.
I think the future willbe tightening up existing resources rather than just conquest of new ones until demographics begin to change. China might go full gene engineering in a few years and add factory babies, not sure where they are on that tech.