Is China the Biggest Loser in the Red Sea Crisis? China Merchants Port's Profits Drop by 78%

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The "Red Sea Blockade" crisis continues to escalate, affecting the vital interests of most countries worldwide. For years, China has been a major customer north of the Red Sea at the Suez Canal. However, the recent outbreak of the Red Sea crisis has had a severe impact on China's economy, which is already struggling and in need of stable foreign trade. Analysts suggest that China may become one of the biggest losers in this crisis.
The main culprit behind this crisis are the Houthi rebels in Yemen, an Islamic Shia group that is an ally of the Palestinian extremist organization Hamas. Since October 7th last year, after Hamas carried out terrorist attacks on Israel, the Houthi rebels have been launching drone and missile attacks on international shipping vessels passing through the Red Sea. They claim that their attacks are in support of Hamas and the Palestinians trapped in the Gaza Strip, but often, their targets have no clear connection to Israel.

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