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The truce they brokered over Yemen between the Saudis and Iran was surprising, as well as being one of the highest points in China's usually dogshit foreign policy record ever. Given that, my hope that they might achieve anything whatsoever positive is tremendously higher than it might have been otherwise.
It's hardly cause to be too optimistic though, jumping from expecting a 0.1% chance that their pressure pauses the genocide a little sooner than otherwise to a 10% chance doesn't mean there isn't a genocide taking place
The potential is there but we should temper our expectations.