In this paper, we discuss:
• China’s relative resilience in the Iran war, supported by energy diversification and strategic reserves;
• The acceleration of China’s “New Three” export strategy in EVs, batteries, and solar;
• The risks to China from disruptions in its Asian trading partners and supply chains;
• The mixed impact on the Belt and Road Initiative, with both opportunities and short-term constraints;
• Growing pressure on the petrodollar system, with gradual de-dollarisation rather than rapid displacement
Download PDF: China – April 2026
