China, which depends on Iran for oil and to counter American influence, has a lot to lose from a wider war. But there’s not much it can do about it.

© Majid Asgaripour/Wana News Agency, via Reuters

Beijing has gained time to build up its own strengths by drawing out negotiations with the United States, using its chokehold over critical minerals.

The two leaders spoke by phone on Thursday, after weeks of worsening tensions between Washington and Beijing.

© Pool photo by Tingshu Wang