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China's alliance with Tehran is helping its cargoes of crude to clear Hormuz, its economic data are improvig and Xi holds the cards in negotiations with Trump.
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Beijing tamped down its GDP growth target this year to a range of 4.5% to 5%, the least ambitious goal on record going back to the early 1990s.
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Also in today's newsletter: China's JD.com launches European ecommerce service, and Macquarie takes on Australia's retail lenders
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