Step 1: Find the opening sentence.
P starts a comparison about developed countries and their extent of impact, and it is the only sentence that can open the passage since Q, R, and S all depend on ideas introduced earlier.
Step 2: Find what continues P.
P ends mid list, "including European economies and to a lesser extent", which needs a noun to complete the list. S starts with "Japan", which completes that exact list and finishes the clause with "have been hit by the crisis in the US". So P is followed by S.
Step 3: Bring in the contrast about developing countries.
After establishing that developed countries were hit, R introduces developing countries with "have been affected as well, but they have", setting up a contrast using "but". This naturally follows the P-S statement about developed countries.
Step 4: Close with the outcome.
R ends with "but they have", which needs a verb phrase to complete the contrast. Q supplies exactly that: "Nevertheless, managed to maintain robust rates of economic growth", completing the sentence about developing countries staying resilient.
Final Answer:
The coherent order is P, S, R, Q, matching option (d). \[ \boxed{PSRQ} \]