No that's not the only reason. High oil prices affect their economy quite a bit, and much of their imports form what I understand come from the Middle East.
High oil prices affect them less than any other country in the world. They have the largest oil stockpiles by far, eclipsing even the US, and they have unique access to oil sanctioned by the west.
China is essentially the only actor in the market that is able to weather this conflict in marathon fashion.
The US is the largest producer of oil and natural gas in the world (or #2 or something - besides the point). Your argument that only China can weather these price disruptions doesn't seem to hold water for that reason and because of Chinese actions to use that strategic supply to keep prices lower than they otherwise would be. It's not because it's some random benefit for the world (including the US) it's because their economy like any major industrial power relies on oil and gas (and coal) and keeping prices low to help their export-dependent factories.
They have their own advantages and strategies to deal with these things, but this idea that China just like sits around and "weathers the conflict" unscathed is just incorrect.
China's economy is one of the least dependent on oil and gas. Electricity is mostly coal, renewables and nuclear. Transport is increasingly electric (including trucks). Chemicals are moving from oil and gas to coal.
If global oil and gas prices rise, Chinese electricity and transport prices are largely unaffected, unlike the rest of the world. Even the US doesn't have that kind of resilience.
However, China is a net importer of oil and gas, while the US is a net exporter, so when it comes to trade the US is the main beneficiary, although it mainly benefits one single sector.
> If global oil and gas prices rise, Chinese electricity and transport prices are largely unaffected, unlike the rest of the world. Even the US doesn't have that kind of resilience.
This is simply inaccurate. I don't know why you or others keep repeating this. It's bizarre. How do you think China gets goods out of the country to other countries? Separately China is specifically dependent on oil and gas shipments from the Middle East. How these disruptions affect countries depends on a lot of different factors. This blasé assertion that China somehow isn't affected by oil and gas prices is not reflected in reality or China's own actions. Why do you think they're drawing on their strategic reserve?
