A fragile ceasefire between the US and Iran has shone a spotlight on China’s evolving role in global crises. After initially keeping a low profile, Beijing has stepped up diplomatic efforts, positioning itself as a mediator while maintaining close ties with Tehran. At the same time, disruptions in the Strait of Hormuz are fueling speculation that China could use this crisis — including Iran’s collection of tolls in the Chinese currency — to advance RMB internationalization and reshape global energy markets. But is China emerging as a genuine peacemaker — or pursuing a strategic advantage? In this episode, we examine China’s shifting approach to the Iran conflict, the economic and geopolitical implications, and what these developments could mean for the Taiwan Strait and the broader balance of power. *Recorded on April 9, 2026 at 3:15pm Taiwan Standard Time Host: Wen-Ti Sung Producer: Chinyeh Chiang Our guests: Lee Chia-yi National Chengchi University Department of Diplomacy Professor Eric Chiou National Yang Ming Chiao Tung University Center of Human Sciences Associate Professor Chapters: 00:00:00 – Beijing’s Risks in Iran Talks 00:01:50 – China Claims Credit for Truce 00:11:34 – Iran Collects Hormuz Tolls with RMB, Crypto 00:22:20 – Xi-Trump Summit Back On
Source: China’s Stakes in Iran Talks: Currency, Oil and a Bid for Global Influence | Taiwan Talks EP 812
Summary
This episode of Taiwan Talks examines China's growing involvement in the ongoing crisis between the United States and Iran. Following a fragile ceasefire, Beijing has transitioned from a low profile to an active diplomatic mediator while maintaining strong ties with Tehran. The discussion highlights how disruptions in the Strait of Hormuz are driving speculation that China might leverage this situation to promote the internationalization of the renminbi. Specific attention is given to reports suggesting Iran could collect tolls in Chinese currency or cryptocurrency, potentially reshaping global energy markets. The program explores whether China acts as a genuine peacemaker or seeks strategic advantages through these developments. Experts analyze the economic and geopolitical implications for the Taiwan Strait and the broader balance of power. Recorded on April 9, 2026, the episode features Professor Lee Chia-yi from National Chengchi University and Associate Professor Eric Chiou from National Yang Ming Chiao Tung University. They discuss Beijing's risks in these talks, China's claims regarding credit for a truce, and the potential resumption of a summit between Xi Jinping and Donald Trump. The conversation covers topics ranging from energy security and digital finance to regional stability and international cooperation in the Middle East.
