As oil prices climbed past $100 a barrel for the first time in four years, OCBC analysts said China may be “less sensitive to a prolonged closure of the Strait of Hormuz than many of its Asian peers.”
“China has accumulated one of the world’s largest strategic and commercial crude reserves,” the analysts said, adding that its “rapid transition toward electric vehicles and renewable energy provides an additional structural hedge.”
You’re not wrong, but that has nothing to do with their economic prowess. China is scary because they are both run by a psychopath and their leadership generally thinks ahead.
The US has the psychopath part down. Not the planning bit.