China is preparing to host its largest-ever military parade in Beijing, marking the 80th anniversary of the end of World War II and drawing world leaders including Vladimir Putin and Kim Jong Un. Isaac Stone Fish, CEO of Strategy Risks, notes that key signals to watch will include Xi Jinping’s comments on Taiwan, his interactions with Putin and Kim, and how confident he appears on the global stage. He explains that since Russia’s invasion of Ukraine, China, Russia, and North Korea have grown closer, with North Korea becoming less isolated as it supports Russia’s war effort. This alignment poses challenges for the U.S., though Isaac points out that shifting dynamics, including past U.S. outreach to North Korea under Donald Trump, add unpredictability to the future of these relationships.