Forget Iran, The Real War Is With China

Escalating U.S.–China rivalry is identified as the primary market threat, not the Iran conflict, with deliberate disruption of China's energy supply via Iran and Venezuela aimed at Beijing's industrial engine. This raises the prospect of higher energy prices, supply‑chain disruptions and broad risk‑off flows that could pressure emerging-market assets and commodity-linked sectors.

Analysis

Escalating U.S.–China rivalry is identified as the primary market threat, not the Iran conflict, with deliberate disruption of China's energy supply via Iran and Venezuela aimed at Beijing's industrial engine. This raises the prospect of higher energy prices, supply‑chain disruptions and broad risk‑off flows that could pressure emerging-market assets and commodity-linked sectors.