Russian President Vladimir Putin and North Korean leader Kim Jong Un attended a major military parade in Beijing on Wednesday as the event debuted new missiles, drones and other high-tech equipment in a massive show of force.

Chinese President Xi Jinping, who presided over the “Victory Day” event intended to celebrate the 80th anniversary of Japan's defeat in World War II, warned the world was facing “the choice of peace or war,” casting little doubt on the country’s aggressive posturing.

“Today, mankind is faced with the choice of peace or war, dialogue or confrontation, win-win or zero-sum,” Xi told a crowd at Tiananmen Square, adding that China was “unstoppable” and that its people “firmly stand on the right side of history.”

The parade marks the first time Xi,........

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