At the same time, it can be seen that the trade volume between the US and the Euro zone economies UK and Germany was lower mainly on account of the fact that these economies are also witnessing a phase of recession that has caused the aggregate levels of demand for goods and services to decline. As a result, the demand for imported goods has also declined which translated into lower exports by US to these regions. As US is also under the pressure of slowdown in the growth rate of GDP, there is a decline in the demand for imports which translates into lower imports from UK by US.
In short, it can be said that there is a higher level of interdependence amongst the developed world economies that leads to similar economic turmoil in these economies. Hence there is a decline in the trade volume between them. On the other hand, China is a developing economy that presents huge potential for demand and as such it also offers the potential for heightened trade activity across economies.