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China's Energy Dominance Could Cement Superpower Status Amid Iran War

Financial Times Companies •
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The escalating conflict in the Middle East presents China with a strategic opportunity to solidify its position as a global superpower, according to a Financial Times analysis. As the world's largest oil importer, China faces significant risks from the Iran war disrupting critical supply routes. However, Beijing's extensive preparations, including 1.3bn barrels of strategic petroleum reserves and aggressive stockpiling of fossil fuels, position it to weather the crisis. China's top battery makers have already gained over $70bn in market cap since the US-Israel attack on Iran, reflecting investor confidence in its green tech dominance.

This diversification, with electricity accounting for 30% of energy consumption versus 50% higher than the US or Europe, insulates the economy from oil price volatility.