(Bloomberg) -- As the US and UK launch airstrikes to stop Iran-backed Houthi rebels from attacking ships in the Red Sea, China again finds itself happily sitting on the sidelines.Most Read from BloombergUS Merchant Vessel Struck as Shippers Told to Avoid Red SeaIowa Latest: Trump ‘Honored’ By Win Against ‘Great Competition’Apple to Pull Blood-Oxygen Tool From Watches to Avoid US Ban If Appeal FailsUS Economy Set for Another Cash Boost If Congress Backs Tax DealStocks Slip as Officials Push Back