From Zero Hedge:
Fast forward to 2:08: “It is puzzling to some that Major General Zhang Zhaozhong, a professor from the Chinese National Defense University, said China will not hesitate to protect Iran even with a third World War. Professor Xia Ming: “Zhang Zhaozhong said that not hesitating to fight a third world war would be entirely for domestic political needs….”
Now, I don’t think a Third World War will really be of much benefit to China right now: they are strengthened by the status quo; power and wealth is flowing from West to East. They have humungous treasury and FX reserves that would be better discharged into productive assets, physical assets, etc.
Ultimately — unless America unleashes a nuclear holocaust — it is a war that I think China would be certain to win, slowly, painfully and excruciatingly. The key card China holds is that it retains control over many American supply chains, not just for finished goods, but for components and resources. America has grown hugely dependent on importing energy and resources through the global trade web; a global trade shutdown would trigger hyperinflation in America, and force a long, painful transition period. America — even with European support — does not have enough manpower or enough leverage over global resources and energy to win a conventional war against Russia, China, and Iran.
I hope that sanity prevails, and there is no new war against Iran.