Iran has permitted passage through the Strait for Chinese-flagged ships. This is no different to the free passage afforded to neutral-flagged ships in World War II.
Business relations with China have been almost totally obscured by the Israel and US attack on Iran, the apparently unexpected blockade of the Strait of Hormuz by Iran and instantaneous global fuel shortages.
However, on a broad scale, there is a need to look beyond the fog of war to explore what this means for global trade and trade settlement.
