China, especially its military, is now and has been inextricably tied to Russia since the end of WWII. China can't make a military grade jet engine for its fleet of fighter jets, and still relies on Russia to supply engines for China's fighters.
Russia will not go bankrupt. It will at most have a regime change via a palace coup against Putin, patch up relations with the West, and return to its grifting status quo anti.
Not gonna happen.