World News: Demand From Developed Economies Buoys Asian Exporters
Economic data across Asia are showing how the region is benefiting from an upturn in demand from industrialized nations.</br></br>After the U.S. entered its recession in 2007, export-focused nations in Asia, notably China, relied on massive domestic stimulus to boost local demand.</br></br>Now, as the U.S. leads a global economic recovery, Asia's dynamic has changed, with manufacturing indexes from the region on Tuesday showing strong export orders.</br></br>"The latest pickup in Asian manufacturing activity reflects stronger demand from developed markets like the U.S. and Europe, as well as moderate growth in China," said Chetan Ahya, chief Asia economist at Morgan Stanley.</br></br>Mr. Ahya expects demand from developed markets to strengthen over the rest of 2013 and to improve further next year.