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Unless it's different this time (open to it), data behind why we think China still has a ways to go:
China Real M1 vs. Li Keiqang YoY 
Excavator Sales YoY
Electricity Production
South Korea Exports YoY
Copper YoY
$CAT YOY
There is an off chance that the Chinese have figured out how to expand credit that is completely unreported. Can see a pick up in glass production and other housing related indicators that have completed diverged, so need to be open to this being a possibility.
There is also a slight probability that China may be in the process of running the equity bubble back, to improve moral and alleviate corporations who pledged shares as collateral. From a trading perspective, this could continue to be quite fun - MultipleExpansion#
