China is using its growing trade power to enhance its global influence, especially in Africa, Latin America and Asia where it is perceived as an all-weather friend. Since opening up its economy in 1978, China's foreign trade has been growing by leaps and bounds. In 2008, its foreign trade volume exceeded $2.56 trillion 70 times more than what it was 10 years ago, according to the US-China Business Council. China has now become the world's largest exporter, beating Germany, reported the World Trade Organisation.