Globalisation thrives in Asia as upswing in exports drives growth

Hong Kong

FOR all the talk of globalisation's retreat amid the mercantilist rhetoric of Donald Trump, it's proving to be a very different story in Asia.

Exports are resurgent, governments are pursuing free-trade deals, and rather than bringing jobs back home, American automakers are planning new facilities in China. That early-2017 angst over potential for a trade war is now turning into recognition there's been something of a trade bonanza as the global economy's strongest synchronised upswing in seven years drives demand for Asian-made goods.

But can it last? US-China tensions are mounting again: from accusations of intellectual property theft to a global steel glut to North Korea's nuclear saber-rattling. And with China's economy…