Citic Securities analysts are examining the implications of shipping blockades in the Strait of Hormuz. They suggest these geopolitical tensions could lead to a decline in US economic dominance and a restructuring of global trade relationships.

With global attention fixed on the US and Iranian shipping blockades in the Strait of Hormuz and how many vessels have traversed the critically important waterway, a leading Chinese investment bank has been calculating the long-term gains and losses and how they could rewrite the global economic order. The United States was on the horns of a dilemma over the strait that might herald an acceleration of Washington’s strategic retreat and its increasingly transactional relationships with other...