Chinese president arrives in US with new energy leverage as war rattles global markets
The Iran war has boosted China’s clean energy exports and strengthened its leverage in global energy markets, giving China little incentive to yield to President Donald Trump’s demands.
President Donald Trump plans to press Chinese President Xi Jinping on his energy posture with Iran when the leaders meet Wednesday in Washington. But there’s little reason for China to yield — especially since the war has helped strengthen its hand as an emerging global energy superpower.
The war in Iran has spiked global prices for energy and other commodities and created a political albatross around the neck of both Trump and his party. The price of a global barrel of oil stood at about $100 on Tuesday. Meanwhile, China has been exporting its clean energy technologies to other vulnerable countries, leveraging its massive oil stockpiles and presenting itself as a more stable geopolitical partner.
Read also: Xi Is Getting What He Wants, by Michael Schuman, The Atlantic
