Most Chinese exports to Europe are shipped through the Red Sea, while tens of millions of tons of oil and minerals transit the waterway to reach Chinese ports. Chinese officials repeatedly stressed that the Red Sea crisis is a “spillover” from the conflict in Gaza, citing an immediate ceasefire between Israel and Hamas as the top priority. Beijing’s reluctance to wade into the Red Sea crisis reflects these geopolitical calculations. The Chinese government readout of the meeting between Wang and Sullivan did not mention the Red Sea. Egypt is losing millions of dollars per day from the reduced traffic at the Suez Canal at the northern end of the Red Sea.

Source: Egypt Independent January 30, 2024 11:55 UTC