As far as oil cost China has a lot more alternative energies I think per population ..More electric cars and such.. Wont be hurt as much as a lot of countries.. Will probably effect America's middle class more then China's middle class the oil prices..
They are still affected, but they have time. They learned from the Japanese and Japan have 250 Days reserve of Oil, Gas, LNG I believe.
The reason why they went Electric has got nothing to do with saving the planet. It is to prepare for situations like what they are facing now.
They have mid term and long term plans. And it is easier for them to achieve it because it is a single party system. When you have a multiple party system, the interest of the political party.... many times...comes before their people and constituents .
That being said, if the Iran situation last more than 8 to 9 months, they will start facing visible problems.