Operator

Please welcome Vice President, Investor Relations, Mark Haden.

Mark Haden
VP of Investor Relations

Well, good morning, everyone, and thank you for joining us today for Bunge’s Investor Day. We’re pleased to have you with us. I’m Mark Haden, Head of Investor Relations for Bunge.

Before I introduce our first presenter, I’d like to cover a few brief but important items. Today’s presentation includes forward-looking statements that reflect Bunge’s current views regarding future events, financial performance and industry conditions. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. We encourage you to review the detailed discussion of these risk factors in our reports filed with the SEC.

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Let me now walk you through today’s agenda. Greg Heckman, our Chief Executive Officer, will begin with a company overview and strategy update. Julio Garros, our COO, will then discuss our operations and value chains. And

China, closely monitoring the escalating Middle East conflict, balances its interests while opposing foreign intervention, emphasizing risk mitigation over resolution due to its limited influence and strategic concerns.

Key Points

• China observes the escalating Middle East conflict, prioritizing risk management over resolution, while opposing foreign intervention and tracking U.S.-Israeli actions affecting its interests.
• Though physically distant at 4,200 miles, China finds itself in a strategically uncomfortable position regarding the U.S. campaign, which challenges its energy security and commercial goals.
• Beijing’s muted response reflects its limited leverage and transactional relationship with Iran, emphasizing its opposition to regime change and its focus on preserving national sovereignty while preparing for potential escalation.

As the conflict in the Middle East intensifies, China adopts the role of a concerned observer, attempting to balance its strategic interests with a limited ability to influence events. Situated approximately 4,200 miles from the conflict, Beijing has more room to navigate the implications of the U.S.-Israeli military operations against Iran, which present a challenge to China’s energy security and economic ambitions in a region of crucial significance. The recent escalation is particularly discomforting for China, given that it represents the most substantial military engagement by its primary geopolitical rival, the United States, since the Iraq War.

China’s response has been notably restrained, reflecting its limited leverage over unfolding events and the transactional nature of its relations with Iran. Historically, China opposes foreign intervention, particularly actions like regime change that challenge national sovereignty—a principle that not only shapes its foreign policy but also resonates with its own territorial sensitivities. This fundamental stance underpinned China’s initial reactions to the conflict, as it joined Russia in requesting an emergency session of the United Nations Security Council shortly after the military escalation commenced. During this session, China expressed deep concern over the missile strikes, emphasizing the importance of respecting Iran’s territorial integrity and the need to cease hostilities.

Although Beijing publicly condemned the U.S.-Israeli strikes, its swift focus on risk mitigation suggests a prioritization of preparations for potential escalation over active conflict resolution. This duality underscores China’s dilemmas in responding to the volatile situation, where it must navigate its commitments to sovereignty while safeguarding its substantial economic interests in the region. As a result, China’s approach reflects a broader strategy centered on maintaining stability and controlling risks rather than directly engaging in mediation or seeking immediate resolutions. In essence, while China remains vocal against foreign intervention, its actions indicate a careful calculus aimed at minimizing potential fallout and preserving its interests amidst the upheaval in the Middle East.

Read the original article : China’s muted response over war in Iran reflects Beijing’s delicate calculus as a concerned onlooker

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