Beijing has urged the international community to step up efforts to de-escalate the conflict between Iran and Israel, warning that the fallout could damage the global economy as Tehran threatens to block the Strait of Hormuz – one of the world’s most important shipping routes.A blockade of the strait, which handles roughly 20 per cent of global oil and gas flows, could dramatically push up oil and natural gas prices, risking a global energy and trade crisis, analysts said.Speaking at a regular...