The China-Global South Podcast The Iran War Looks Very Different From China
Mar 3, 2026
Andrea Ghiselli, lecturer in international politics and head of research at The ChinaMed Project, analyzes China’s reaction to the US-Israel strikes on Iran. She discusses Chinese market and defense responses, why China would act pragmatically rather than as a military ally, shifts in energy security and stockpiling, and how asymmetric drone warfare and regional diplomacy reshape Beijing’s options.
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Chinese Markets Rally On Defense And Energy Bets
- Chinese markets saw a surge into energy, gold, and defense stocks after US-Israel strikes killed Iran's leader, reflecting investor belief Chinese arms could compete globally.
- Shanghai Stock Exchange hit a 10-year high as investors speculated on Chinese weapons exports and energy price effects on EV demand.
China Sees Partners Not Allies In Iran And Venezuela
- China views Iran and Venezuela as transactional partners, not allies with security obligations, so Beijing won't militarily rescue them.
- Chinese policy prioritizes regional core interests like East Asia over distant power projection into the Persian Gulf.
China Prepared Contingencies For Iranian Instability
- Beijing likely prepared contingencies for Iranian instability, planning pragmatic engagement with successor leaders to protect citizens and investments.
- Analysts noted increased Chinese crude stockpiling and diplomatic outreach anticipating supply disruptions and leadership change.