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Xi Jinping Comments on US-Iran Conflict in Meeting with Spanish PM
Chinese President Xi Jinping told Spanish Prime Minister Pedro Sánchez that the international order is crumbling into disarray, using a Chinese expression for chaos and moral decay. The comments mark Xi's first public statements on the US-Iran conflict. New data show the conflict reduced Chinese exports in March and shifted oil imports from the Gulf region.
Apr 14, 8:45 AM·1m read1 source
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# Xi Jinping Addresses Global Order in Meeting with Spanish Leader Chinese President Xi Jinping told Spanish Prime Minister Pedro Sánchez in Beijing that the international order is crumbling into disarray. Xi used a Chinese expression indicating chaos and moral decay in his statement to Sánchez. The remarks were made during a meeting in Beijing.
Xi Jinping's comments to Pedro Sánchez were his first public statements on the US-Iran conflict.
criticized Trump's military action against Iran.
China called the US naval blockade of the Strait of Hormuz dangerous and irresponsible. China warned it could respond if Washington links the US-Iran conflict to a new round of tariffs on Chinese exports. ZeroHedge reported on these positions from China regarding the US-Iran conflict.
and Oil Imports New economic data show the US-Iran conflict took a sharp toll on Chinese exports in March.
About half of China's crude imports came from the Gulf/Middle East before the war disruption. The Gulf/Middle East accounted for 52% of China's oil imports according to Reuters. The share of China's oil imports from the Gulf/Middle East recently fell to 31% due to Hormuz-related disruptions.
Hormuz-related disruptions forced China to replace crude supplies with imports from Brazil and Russia.
Delays Meeting with Xi Jinping President Trump said his meeting with Xi Jinping in Beijing was pushed to May because of the conflict.
The delay was attributed to the ongoing US-Iran conflict.
Pozsar wrote in a March note that the Trump administration is building a portfolio of assets including the Panama Canal, Venezuela's oil, Kharg Island and Iran's oil, and the Strait of Hormuz.
