I could not understand the structure and meaning of the italicized sentence in the following passage, which was excerpted from economist.com. The sentence proceeds with the clause "he values trade with China" after "on the contrary". However, then it continuous with a verb but no subject and this phrase does not have a connection with the rest of sentence as far as I can see. It would be helpful if you could rephrase it.
The notion that Russia would be a good ally against China is even less realistic. Russia is far weaker than China, with a declining economy and population and a smaller army. Mr Putin has neither the power nor the inclination to pick a quarrel with Beijing. On the contrary, he values trade with China, fears its military might and has much in common with its leaders, at least in his tendency to bully his neighbours and reject Western lecturing about democracy and human rights. Even if it were wise for America to escalate confrontation with China—which it is not—Mr Putin would be no help at all.