China condemns Iran-backed Houthi attacks on Riyadh airport

Photo: toter yau / Pexels China’s Foreign Ministry has publicly condemned recent attacks by Iran-backed Houthi forces on Riyadh’s King Khalid International Airport. The condemnation follows a series of strikes that resulted in significant casualties and disrupted airport operations, with the latest attack on October 10 causing 12 deaths and 309 injuries. The statement aligns China with several international bodies and governments that have expressed opposition to the aggression targeting Saudi civilian infrastructure. However, the diplomatic rebuke does not necessarily indicate a change in the military dynamics of the ongoing conflict. The market for potential Saudi airspace closure appears to be reacting to the increasing international pressure, with a notable increase in the probability of a closure by the end of the year. The current odds for airspace closure by November 1 have edged up to 7.5%, up from 6% a week ago. Meanwhile, the prediction market for closure by January 1, 2027, has risen to 19% from 14% over the same period. This suggests that market participants are factoring in the heightened geopolitical tensions and potential escalation into their assessments. The broade...