shaking Beijing – Russia and China’s interference: Is Iran now their proxy in war? Why it matters: ‘Hard power is king’ Between the lines The big picture: The war is a blow to China in three key ways, the first is energy, the second is strategic position, the third is reputation and credibility Zoom in: There’s also a Taiwan angle looming on all this, the good, the bad and the ugly: For China, the account is mixed – but the negative is tilted, what’s next.