Iran War Costs Squeeze China's Cross-Border E-Commerce Giants

📉 MARKETS — The Iran war's economic blowback is now hitting Beijing's export engine. 📌 LOOK CLOSER: Jet fuel tied to Hormuz-driven oil prices compresses air freight margins for Temu, Shein, AliExpress — all built on cheap, fast delivery. Simultaneously, Western lower-income consumers absorbing energy inflation are cutting discretionary spend. Two Iran-linked variables hitting the same business model at once signals broader demand destruction beyond energy sectors.