China Working to De-Escalate Tensions in Red Sea, Disrupting Global Trade
China, the world’s largest exporter, has expressed deep concern over the escalating tensions in the Red Sea that have severely impacted global trade. The tensions, which have forced many shippers to avoid the Suez Canal, have prompted China to engage in close communication and make positive efforts to de-escalate the situation. Foreign Ministry spokesperson Wang Wenbin highlighted China’s commitment to ensuring the safety and security of the Red Sea route during a daily briefing on Wednesday.
The Red Sea has witnessed a series of attacks on international ships by Iran-backed Houthi rebels, creating a volatile environment for trade. Since November, the rebels have carried out at least 34 missile attacks on ships navigating the waterways leading to Egypt’s Suez Canal. This critical trade route is crucial for the transportation of energy and cargo between Asia, the Middle East, and Europe.
Wang emphasized China’s deep concern about the recent escalation of the Red Sea situation and highlighted the importance of the Red Sea as an international trade route for goods and energy. In addition, Wang drew a connection between the tensions in the Red Sea and the conflict in Gaza, emphasizing the need to end the fighting promptly to prevent further escalation.
China, as the world’s largest exporter with over $3.5 trillion in goods exported in 2022, has been significantly impacted by the disruptions in the Red Sea. Major container shipping companies and oil giant BP have rerouted their vessels around Africa, bypassing the Red Sea, to avoid the tensions. This redirection has caused a substantial increase in shipping costs and contributed to a decline in global trade.
To address the growing impact on global trade, the United States and several other nations have created a new force dedicated to protecting ships in the region. Currently, approximately 90% of container ships that previously used the Suez Canal are now taking longer routes around Africa via the Cape of Good Hope, according to maritime research consultancy Drewry.
The cost of shipping a standard 40-foot container from China to northern Europe has skyrocketed from $1,500 to $4,000 due to these disruptions. Despite this increase, shipping costs remain far below the peak of $14,000 experienced during the pandemic. Moreover, the delays caused by the tensions have led to a 1.3% decline in world trade in December, primarily due to goods being stranded on ships instead of reaching ports.
The United States and its allies have been conducting targeted strikes against entities involved in attacking U.S. forces in Iraq and Syria, as well as those posing threats to U.S. military and commercial vessels in the Red Sea. China, maintaining close ties with Iran, has actively engaged in peace-making efforts in the Middle East. However, its non-alignment with any specific side has raised concerns about its credibility among critics.
China stresses the importance of respecting the sovereignty and territorial integrity of Red Sea coastal countries, including Yemen, by asserting that the United Nations Security Council has not authorized the use of force against Yemen. China is willing to collaborate with all parties to cool down the situation, restore security and stability in the Red Sea, and ensure the unimpeded flow of global trade.
In conclusion, China’s involvement in de-escalating tensions in the Red Sea reflects its deep concern for the disruption of global trade. As the world’s largest exporter, China is committed to ensuring the safety and security of trade routes in the Red Sea. By engaging in diplomatic efforts and urging relevant parties to avoid further escalation, China aims to protect its economic interests and contribute to global stability.
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