Red Sea conflict: why China is cautiously staying away. 40% of trade between Asia and Europe crosses the Red Sea and the Suez Canal.
12% of global oil traffic circulates there. Beijing can also take advantage of this slowdown in maritime activity in Bab-el-Mandeb to harm a competing project of the New Silk Roads, says Emmanuel Lincot, professor at the Catholic Institute of Paris. However, China would have to have a military base, with unknown personnel, in Djibouti.