The war in Iran has thrown the U.S.-China relationship into turmoil, with President Trump postponing his summit with Xi Jinping and demanding China send warships to the Gulf. Trump's call for Beijing to escort vessels through the Strait of Hormuz has been met with ridicule in China, where officials have flatly rejected the proposal. The Chinese foreign ministry spokesman said only that his country wants "all parties to immediately cease military operations."

Beijing has little incentive to risk Chinese personnel or ships or undermine ties with Iran, its closest partner in the region. As much as 40 percent of China's oil imports travel through the waterway, but shipping data shows few Chinese vessels are risking the journey since the war began. At least nine Chinese carriers appeared stuck in the Gulf as of Tuesday, according to maritime data.

For Xi Jinping, contributing warships would mean submitting to U.S. leadership at a time when he's working to cement Beijing's position as a superpower. Analysts say China sees this as "an American war rather than China's problem." The summit delay could actually benefit Beijing if the conflict drags on, giving China more leverage in negotiations over trade, technology exports, and Taiwan support. The fragile détente between the powers now hangs in the balance.