Shifting to a new engine

The sharp fall of China's exports and trade surplus in February will spark new worries about the country's growth prospects.

Such uneasiness is somewhat justified given the latest World Bank forecast that trade will fall to its lowest point in 80 years in 2009, as economic hardship ripples across the globe.

However, the export gloom should not blind us to the ray of hope that China's economic slowdown may be reversed by a boost in domestic demand.