Last week, China and Russia began their first ever joint military exercises. The drills have some armchair strategists warning of a new entente between Beijing and Moscow that could pose a threat to the existing regional security order. The truth about the exercises is considerably less exciting. For all their historical significance, they are a signal to various governments not to ignore China or Russia in their calculations. For Moscow, the exercises are marketing tools for weapons sales to China. But Beijing and Moscow remain wary of each other, and fears of a new axis of global, or even regional, power are overblown.

The weeklong Peace Mission 2005 exercises involve 10,000 troops (more than 80 percent of which are Chinese) and some impressive high-tech equipment. The drills, divided into three parts, focus on counterterrorism, the scenario for which is ethnic conflict in an unnamed third country that appeals to its neighbors and the United Nations for help. They include offshore blockades, amphibious landings, evacuations, live-fire exercises and joint command components.

Xinhua news agency said Peace Mission "aims to improve the capabilities of the Chinese and Russian armies in combating new threats, dealing with crises and organizing coordinated actions in the backdrop of the fight against terrorism, separatism and extremism."