Bangladesh, Sept. 20 -- The world is confronting one of the most disruptive energy crises in years, with the war involving Iran and the effective disruption of shipping through the Strait of Hormuz putting extraordinary pressure on global oil markets. Yet the feared worst-case scenario has not fully materialized. According to an Associated Press report published September 19, one important reason is China's long-term energy strategy-an approach designed primarily to protect Beijing but now providing an unexpected cushion for the wider global economy.

That reality creates an uncomfortable question for Washington and other Western capitals: Can a country increasingly portrayed as an economic and strategic rival simultaneously be helping c...