"There has been an improvement in competitiveness and a very strong export performance, " he added.
First, some have talked about export performance as the reason for the uptick.
But this did not materialize because of changes in the housing policy and weak export performance in July and August.
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He said the loss of US jobs was due to a poor export performance, rather than imports of cheap goods.
But even those who know recovery will be slow and painful are perturbed by the persistence of one particular symptom: poor export performance.
The ADB forecast China's economy would expand by 8.2% this year, up from 7.8% last year, on the back of strong domestic demand and better export performance.
The finance minister believes his country is well placed should the eurozone's economic prospects improve, or even if they weaken, saying that scenario helps Poland's export performance.
The economy returned to positive growth in 2011 due to a strong export performance, but in a deflationary environment caused by bountiful crops and weak domestic demand.
Improved export performance will, in turn, create good high-paying jobs.
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Despite the benefits of devaluation, quantitative easing and a slower pace of deficit reduction, the U.K. recession has actually performed no better than Spain in the year to the end of March while its export performance has been worse.
And the last point is we think we need to rebalance our economy in order to succeed globally, because if the United States is going to be a high-wage, high-performance export-led economy, it needs to do three things that the other successful wealthy industrialized exporting countries have done.
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Mr. Pearson pointed to the low cost of finance accessible to many German companies and to their often strong performance in export markets.
The bill contains an inane formula which allows the export of supercomputers with a performance capability of 25% or less of the average of the two most powerful supercomputers currently available commercially.
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