Georgian conflict and bank bonds.

Back during the invasion of Georgia by the Russian military, it seemed as if the complaints by the West were largely ignored. To the contrary, they weren't. A couple months back it came out that the Russian government was in talks with the Chinese to dump Fannie Mae/Freddie Mac bonds (this is back during the financial meltdown) to punish the U.S.

The Chinese politely declined their offer, but seem to have second thoughts now over America's arms deal with Taiwan.