Rising Chinese demand helped drive South Korea’s economy to its fastest growth in seven years in the third quarter, underscoring how Asia is leading the global economy and trade out of the worldwide downturn.

The Asia-Pacific region’s fifth-largest economy grew 2.9 per cent from the previous quarter as South Korean exporters benefited from rising Chinese demand. Last week, China said its economy, which has regained speed on the back of massive government stimulus spending, expanded 8.9 per cent in the third quarter from a year ago.