The US-Israeli war against Iran, initiated by President Donald Trump on February 28, has caused significant global economic disruptions by closing the Straits of Hormuz, impacting 20% of worldwide oil and natural gas transport, leading to surging fuel prices, increased electricity costs, and disruptions to critical supplies like fertilizers and semiconductors, severely affecting Asia-Pacific and African nations. The conflict accelerates US hegemony's decline by draining resources, creating a power vacuum for China to expand influence via diplomacy.
Gulf states question US reliability, strengthening ties with China. Iran directly challenges the US dollar's global dominance by demanding oil sales in yuan for Strait passage. This war exposes US power weaknesses, failing core objectives and aiding China's rise as a responsible global leader.
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