Emerging markets power trade growth

In the face of global economic stagnation and weak external demand, many are questioning whether China's strong foreign trade figures can hold up in this tough climate.

Last year, Chinese foreign trade increased 6.2 percent, to 3.87 trillion US dollars, but that was much lower than the 10 percent target set by the government. Officials have cited economic problems in the EU, the US, and other major trading partners, as a reason for the lower-than-expected figure.

But when the figures are broken up a little, you find that EMERGING markets are gaining MORE weight in China's foreign trade. For example, ASEAN countries saw their share of Chinese foreign trade rise last year with January showing a 42.9 percent year-on-year growth, and China-ASEAN trade reaching a huge 36.99 billion U.S. dollars.