Russian President Vladimir Putin visited China last week to kick off "the Year of Russia in China." The festivities, which Russia will reciprocate next year with "the Year of China," are sure to trigger the usual excited speculation about ties between the two continental giants.

No doubt the two countries put considerable stock in their "strategic partnership," but there is no need to hyperventilate. There are very real limits to their bilateral cooperation.

Ten years ago, Beijing and Moscow agreed on a strategic partnership that called for the settlement of all remaining border disputes as well as an intensified political and economic relationship. Borders have been agreed, the two countries cooperate in the Shanghai Cooperation Organization to settle affairs in Central Asia, they consult whenever possible on U.S. hegemony and on key international issues through a variety of working-level mechanisms, and the two countries' leaders meet often -- Mr. Putin has met Chinese President Hu Jintao five times in the last year alone.