China has no reason to help the US in the Strait of Hormuz — and every incentive to wait out this crisis.

Even President Donald Trump’s request to delay a much-anticipated summit with his Chinese counterpart will work in Xi Jinping’s favor. It allows Beijing to better lay the groundwork on the issues it’s pressing Washington on, from limits on access to American technology and investment restrictions to relief from tariffs and a way to manage tensions over Taiwan. None of that was likely to be secured in a rushed encounter.

© Bloomberg