There is hardly a reason for USA/NATO and other USA-friendly countries 'to back out' - why should they do this?
A military weak and financially poor Russia is only good for them all, and so far, Russia lost around 60.000 men in combat, dead or severely wounded, more than 10.000 vehicles of any kind are destroyed or even taken by the Ukrainians, repaired and now used against the Russian invader, more than 400 aircrafts and helicopters were lost....
The conditions about a peace talk are clear from Ukraine and also fully supported by NATO - all Russian military out of Ukraine from all territories.
Putin and his ilk made a very serious miscalculation - expecting that more than 40 million Ukrainians will surrender within 3 days and accept a new 'Ukrainian government' fully controlled by Russia. However the Ukrainians decided to fight back and found a lot of support from Western countries about all and everything - political support, delivery of weapons, medical help, assistance with refugees.
Western Europe is in an alarming condition - not because of Ukraine, but about which country will be next after Ukraine surrenders to Russia. - Moldovia for sure, the small Baltic countries for sure, but Russia was also threatening Finland and Sweden with military actions, and this is totally unacceptable.
It's also a disaster for Russia......
Current war is a disaster for Ukraine
China is not unhappy to see a weak Russian military. Why should China like the idea of a strong Russia?Worst outcome is if Russia and China join forces against the USA.
China is considered by Western countries to be 'dangerous' but not stupid. The Chinese government is not doing anything which might harm China seriously in the future. The Chinese government thinks only about China and is not interested 'to join' Russia. To join Russia for what?