China urges US, Israel to stop military action in Middle East, warns of 'vicious cycle'
Yahoo • • world
Key Points:
- China called on all parties involved in the Middle East conflict, especially the U.S. and Israel, to halt military operations to avoid a "vicious cycle" that could destabilize the region and harm global economic growth.
- Chinese special envoy Zhai Jun emphasized that those who initiated the conflict must take responsibility for resolving it, while the foreign ministry warned that continued hostilities would plunge the region into chaos.
- Reflecting on the 23rd anniversary of the Iraq War, China highlighted the long-term suffering and instability caused by that conflict, drawing parallels to the current situation involving Iran and the wider Middle East.
- The closure of the Strait of Hormuz due to Iranian attacks has triggered a severe oil crisis, posing risks to China's export-driven economy, particularly as emerging markets vulnerable to rising energy costs are key trading partners.
- Despite China's relative resilience to higher oil prices due to its energy mix and stockpiles, Goldman Sachs lowered growth forecasts for China’s second quarter and raised inflation expectations, with Beijing maintaining diplomatic efforts to ensure safe passage through the strait.
