A fragile rebound for Asia

Bank raises growth forecast, but long-term health requires renewed demand in export markets

BRIAN MILNER

Asia's emerging economies have rebounded from the global recession faster than anyone expected, even though their major export markets continue to languish.
But much of the growth spurt that began in earnest in the second quarter stems from heavy government spending and other temporary initiatives to stimulate domestic demand, and the region has yet to shake its dependence on the exhausted consumers of the more advanced economies.