China's leader Xi Jinping hosted Russia's Vladimir Putin, North Korea's Kim Jong-un and dozens of other leaders at the country's biggest-ever military parade on Wednesday morning local time.

The big picture: President Trump in D.C. suggested the trio may be conspiring against the U.S. during the event marking 80 years since Japan's formal surrender that ended World War II. • Iran's Masoud Pezeshkian was also expected to join the trio and 22 other leaders at the massive display that's notable for its absence of Western leaders. • The four allies have in recent months sought to forge a military, economic and political cooperation in an alliance foreign policy analysts are calling the "axis of upheaval."

State of play: The event marking 80 years since Japan's formal surrender that ended

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