China's Wang: Lasting war to only result in bigger losses

Chinese Foreign Minister Wang Yi has emphasized that prolonged conflicts, particularly the ongoing U.S.-Israeli war with Iran, risk inflicting greater economic and geopolitical losses on global stakeholders. Speaking at a press conference on March 8, 2026, Wang stated the war "does no one any good" and urged all parties to return to diplomacy, warning that "might does not make right" according to his briefing. China, a major importer of Iranian oil, has been directly affected by disruptions in the Strait of Hormuz, which accounts for over half of its Gulf crude oil imports as reported. The conflict has already strained energy markets, with Beijing sending envoys to mediate while balancing its strategic alignment with Iran against calls for U.S.-China "peaceful coexistence" according to analysis.

Wang also highlighted broader implications for global stability, noting that great power confrontations "bring disasters and pain to humanity" according to his remarks. While China opposes U.S. trade protectionism—criticizing tariffs as "locking oneself in a dark room"—it has simultaneously expanded market access for African and other partners to counter economic headwinds as detailed. Domestically, China's growth target of 4.5%-5% for 2026 reflects cautious optimism amid slowing demand according to economic analysis.

Long-term, analysts suggest the Iran war could paradoxically bolster China's influence by exposing U.S. unreliability, prompting countries like Germany and Canada to deepen economic ties with Beijing according to expert analysis. However, short-term energy disruptions and geopolitical tensions underscore the risks of protracted conflict, aligning with Wang's call for cooperation over confrontation as noted.