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COSCO hasn't released news they'll stop red sea shipping. TBH if Houthis only targetted western shipping it would be slight competitive advantage to PRC. The po
by maxglute 3y ago
COSCO hasn't released news they'll stop red sea shipping. TBH if Houthis only targetted western shipping it would be slight competitive advantage to PRC. The potential blowback is if US pressures Iran and threatens 1m barrels of of Iranian oil to PRC.
- mytailorisrich 3y agoYes, I suspect Chinese companies have "immunity". But overall Chinese exports can still be impacted if the major Western shipping companies stop going through those waters. So there might a balance to maintain if Iran wants to avoid a call from Beijing.
- maxglute 3y agoI think PRC influence over situation is limited. I suspect this is as much Iran flexing (Houthi missiles of Iranian origin) their new regional power projection capabilities, and due to current energy geopolitics, betting no one wants to stir the pot any further. They want everyone to know they can now credibly escalate in region, regardless of PRC ire.