Can China lead the world out of the recession?

I asked this question at an English Corner I did today. Most of the students didn't think so for the same reasons that many experts don't think it can: China's economy is based too much on Exports; China, as yet, is too poor; the Americans are still the biggest show around and will be for a while.

When I asked the students what China must do to change its' economy they talked about expanding domestic markets, becoming more high-tech, and becoming more democratic.