The closure of the Strait of Hormuz by Tehran, following military actions by the United States and Israel, has caused a global energy crisis. This situation has had a particularly strong impact on Asian economies.

德黑蘭在美國與以色列採取軍事行動後關閉了霍爾木茲海峽，導致全球能源危機。這種情況對亞洲經濟的影響尤為強烈。

The current instability began on February 28 after attacks on Iranian government and military sites, which led to the death of Supreme Leader Ali Khamenei. Because about 80% of oil and 90% of liquefied natural gas passing through the strait go to Asia, the blockade has put significant pressure on regional markets.

目前的動盪始於 2 月 28 日，在伊朗政府與軍事據點遭到襲擊，導致最高領袖哈梅內死亡後爆發。由於約 80% 的石油與 90% 的液化天然氣經由該海峽運往亞洲，因此封鎖對區域市場造成了顯著壓力。

Regarding India, research by The Asia Group shows that while government measures helped for the first 90 days, a disruption longer than three months would likely threaten financial stability. The government used fuel price limits and subsidies to keep the situation stable; however, these actions increased the fiscal deficit to between 5% and 5.3% of GDP by mid-December, which is higher than the 4.8% target. Furthermore, there are risks of rising prices for food and medicine, as well as lower incomes for farmers due to more expensive fertilizers.

關於印度，The Asia Group 的研究顯示，雖然政府措施在最初 90 天內有所幫助，但若中斷超過三個月，可能會威脅金融穩定。政府利用燃料價格上限與補貼來維持局勢穩定；然而，這些行動使 12 月中旬的財政赤字增加至 GDP 的 5% 至 5.3%，高於 4.8% 的目標。此外，食品與藥品價格面臨上漲風險，且因肥料價格增加，農民收入可能會降低。

In contrast, China is seen as the main regional winner of this crisis. Beijing is more resilient because it has large strategic reserves—enough for 104 days of imports—and has expanded its renewable energy infrastructure. For example, it installed 315GW of solar power last year. Additionally, the crisis has sped up the global shift toward clean energy, increasing China's lead in electric vehicles and solar technology. Politically, Beijing is using the situation to describe the United States as a destabilizing force, although some analysts believe the crisis might discourage military actions in the Taiwan Strait.

相比之下，中國被視為此次危機的主要區域贏家。北京的韌性較強，因為其擁有龐大的戰略儲備——足以供應 104 天的進口量——並擴展了再生能源基礎設施。例如，去年安裝了 315GW 的太陽能發電。此外，此次危機加速了全球向清潔能源的轉型，增加了中國在電動車與太陽能技術方面的領先地位。在政治上，北京利用此局面將美國描述為不穩定因素，儘管部分分析師認為此次危機可能會降低台灣海峽軍事行動的可能性。

While India faces growing financial and social pressures if the blockade continues, China has used its energy reserves and green technology to turn the crisis into an economic and political advantage.

若封鎖持續，印度將面臨日益增加的財務與社會壓力，而中國則利用其能源儲備與綠色技術，將危機轉化為經濟與政治優勢。