China is gaining at America’s expense. India must navigate choppy waters
Indian Express·2h ago·Fear
What Happened
US-Israeli strikes on Iran closed the Strait of Hormuz, removing 20 million barrels of oil daily from global markets. This disrupted supplies, raised crude prices, and increased inflation across Europe and Asia. India, dependent on imports for 88.6 percent of crude oil, faced rupee depreciation and inflation pressures. US global approval ratings dropped to 31 percent while China's rose to 36 percent, the widest gap in nearly two decades, signaling structural shifts in the geoeconomic order.
Key Entities
United StatesIsraelIranIndiaChinaStrait of HormuzBRICSReserve Bank of IndiaChabahar Port