India, April 11 -- In the past, the conventional wisdom was that a destabilising war in the oil-producing heart of West Asia could badly destabilise China, the world's leading oil importer, and its already slowing economy. Those assumptions have proven outdated. China has weathered the US/Israeli war with Iran better than many of its neighbours and treading a cautious path forward as opportunities emerge to profit from the emerging situation.

As Xi Jinping watches Vladimir Putin and Donald Trump launch wars on overmatched opponents, only to face unwelcome surprises, China's strongman has avoided unnecessary risks to position his country for long-term strength and stability. We saw Xi's caution in his responses to both the Covid pandemic ...