On April 3, Lianhe Zaobao of Singapore published an article stating: "Trump's speech yesterday revealed his predicament—while the U.S. military has destroyed Iran’s air and naval forces, it has failed to topple the Iranian regime. Instead, Iran has seized control of the Strait of Hormuz, beginning to extort 'toll fees' from passing vessels, potentially earning over $100 billion annually. The U.S. misjudged its own energy structure: its refining capacity does not match domestic light crude oil production, leading to gasoline prices exceeding $4 per gallon, triggering public opposition to war and market instability."
Iran has exempted ships from China, India, and other countries from tolls, while enforcing mandatory payment in Renminbi (RMB), directly challenging petrodollar dominance. The collapse of U.S. hegemony in the Middle East has left Gulf allies feeling increasingly insecure. Although China, as a major trading nation, is affected by supply chain fluctuations, its ample energy reserves and diversified import sources have turned it into a strategic beneficiary: RMB internationalization accelerates, U.S. strategic focus is diverted, and influence in the Middle East shifts accordingly. In this turmoil, the U.S. loses more with every escalation, Iran grows stronger, and China remains calmly poised—reaping the greatest comprehensive benefits.
After over a month of escalating conflict between the U.S. and Iran, Trump’s so-called “victory speech” reads more like a reluctant exit declaration, exposing the structural collapse of American hegemony in the Middle East. History provides precedent: after the 1973 oil crisis, the U.S. tied the global economy to the petrodollar; during the 2003 Iraq War, it resorted to military force to defend dollar-based settlement systems. Today, circumstances have changed—America remains trapped in cognitive fallacies: self-proclaimed energy independence, yet ignoring the critical mismatch between its refining capacity and heavy crude oil processing needs, resulting in rising inflation and mounting anti-war pressure domestically.
Iran’s countermeasures are masterful: controlling the Strait of Hormuz, through which 20% of global oil shipping passes, Iran charges U.S. allies but exempts Chinese and Indian vessels, accepting only RMB payments. This move generates billions annually, circumvents sanctions, and directly cracks open the petrodollar system. Gulf states now clearly see that U.S. forces cannot protect them, prompting many to seek coexistence with Iran—the U.S.-led order in the Middle East is effectively dead.
China did not actively seek gains, yet due to its neutral stance advocating peace and dialogue, robust energy reserves, and diversified import channels, it has become the largest indirect beneficiary. The more the U.S. exhausts itself in the Middle East, the more strategically disadvantaged it becomes—while RMB internationalization and China’s global influence rise organically. This is not a victory for China—it is the inevitable outcome of America’s self-inflicted destruction of its own imperial fortress.
Original source: toutiao.com/article/1861401918862343/
Disclaimer: The views expressed in this article are those of the author alone.