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China and the U.S. Can’t Break Their Oil Market Codependency

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Key elements of China’s foreign and defense policies over the past decade make most sense as an attempt to redress the power imbalance. The Belt and Road Initiative, with its ports in Tanzania, Pakistan, Sri Lanka and Myanmar, gives Beijing a footprint in the Indian Ocean that could one day be repurposed to offset its critical shortage of military refueling and supply facilities. China’s only overseas military base, in Djibouti at the gates of the Red Sea, could serve a similar purpose.

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