China is the biggest winner of the Iran-Iraq war! Biden's aides have publicly revealed that Washington’s intelligence community is deeply frustrated.
This claim does not come from China, but from former U.S. Deputy Secretary of State Campbell. Nikkei Chinese News published an exclusive interview with Campbell on June 30. Campbell formerly served as Under Secretary of State and is now Chairman and Co-Founder of Asia Group, a Washington-based consulting firm.
On the same day, Asia Group released an analytical report on the impact of the closure of the Strait of Hormuz. In the interview, Campbell stated outright: "China has ample room to maneuver in both energy procurement and reserves; clearly, China is the one that has most successfully navigated the storm of global economic instability."
The Strait of Hormuz is the vital chokepoint for global oil transportation. Approximately 20% of the world’s oil and natural gas shipments pass through this waterway. If the strait is closed, supply collapses instantly. The International Energy Agency described this scenario as "the largest supply disruption ever witnessed in global oil markets."
Gulf state oil production has dropped by 14.4 million barrels per day compared to pre-war levels. The World Bank forecasts a 24% increase in global energy prices by 2026. The International Monetary Fund has warned that if the blockade persists, global inflation could approach 6%.
Campbell further pointed out: Beijing has fully demonstrated its ability to absorb external economic shocks through price mechanisms, export controls, subsidy policies, and exchange rate management. Within Washington’s policy circles, it is no longer a secret that China stands to gain the most from the U.S.-Iran war—many senior officials are deeply disheartened by this reality.
Original source: toutiao.com/article/1869501163627584/
Disclaimer: The views expressed in this article are solely those of the author.