China resumes growth

Both IP (industrial production) and the PMIs (both the "official" and HSBC's) are strengthening again.  Plus retail sales are holding up and inflation is low.  Plan to redirect growth away from exports and investment towards domestic consumption continuing, so although trend growth will be lower (7% ish instead of 10%), a "hard landing" is unlikely.

But key relevance is that the US, Europe, UK, Japan and China are all picking up.