The Israel-Iran conflict and the US-brokered ceasefire that ended it — at least for the time being — have done little to enhance China’s diplomatic clout, with Beijing unwilling, or unable, to weigh in on the conflict and its resolution. But it may still derive some benefits from the crisis, which has highlighted the costs of depending on unreliable Mideast oil and gas, making renewable power and electric vehicles (EVs) that China has bet heavily on an attractive alternative. And there may be some indirect upside, too, with all eyes on the Middle East and very few on China's actions in East Asia, which it considers its backyard.