The combination of Iran closing the strait, and the US subsequently blockading Iran, is having a devastating effect on most economies.

Even China (despite its vast amount of stored oil that can last for six months) is not immune to this, especially if the impasse continues for a very long time.

According to analysts, a lengthy closure and blockade can have severe negative effects on China’s economy. It forces China to buy oil at much higher prices; affects the supply chain (which brings raw materials and other goods to China); and (because the closure is impacting European industries) it cuts down on China’s vast........

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