Markets and media pundits are again overreacting to the latest economic data out of China, but this time on the upside. Headlines are calling the end of the China 'slump'. The economy is said variously to be 'recovering' or 'stabilising'. Predicted imminent financial meltdown of just a few weeks ago is now a thing of the past. The Aussie dollar is strengthening partly on the back of renewed China optimism and China-exposed stocks are generally higher.