Asia has an export problem

On paper, it looks like Asian exports might be picking up — but don’t believe it.There are some signs that the downturn that began nearly two years ago is finally ending. In June, regional export growth was positive for the first time since September, in local currency terms. And although the dollar value of Asian exports fell again, the year-over-year decline was the smallest since January last year.The chart below shows the uptick — two years of negative growth, and then, rec