What matters more than a difference of a few tenths of a percentage point in growth from quarter to quarter is whether Chinese leaders are allowing the private sector to flourish by reducing the role of state industry in the economy, said Ben Simpfendorfer, managing director of Silk Road Associates, a consulting firm in Hong Kong.

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"Clearly there are mutual interests in terms of large energy suppliers and consumers, but there will be stress points, of course, " said Ben Simpfendorfer, co-founder of Silk Road Associates, an investment advisory firm specializing on trade between the Middle East and Far East Asia.

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