Little about Mr. Putin’s invasion of Ukraine is going right for Beijing. One of the bigger disasters so far concerns the fate of Chinese citizens in Ukraine. Speculation is rampant over whether Mr. Putin warned his Chinese counterpart an invasion was imminent. Either way, Beijing didn’t evacuate its embassy or the Chinese citizens now struggling to escape Mr. Putin’s tanks and bombs.

This exacerbates Mr. Xi’s deeper diplomatic dilemma. Having positioned himself as Mr. Putin’s closest friend, the Chinese leader now is under immense pressure from the rest of the world to talk Mr. Putin out of the war. If he can’t do so, and signs so far aren’t encouraging, it will highlight the limits of last month’s strategic alignment.

The Ukraine war is exposing other limits to Chinese power. Beijing has refused to impose financial or other sanctions of the sort Western governments have placed on Russia. But Chinese companies may have no choice but to comply with the Western sanctions anyway. This is especially true of Chinese banks, which this week found they may need to cut off some business with Russian counterparties to maintain their access to the far more important dollar and euro financial systems.