It should be recalled that the US is also growing rapidly and its import demand has continued to be a source of growth for the world economy. Whereas some 10 years ago the E.U. was the main beneficiary of dynamic US demand, nowadays the center of gravity has moved to the Pacific rim.
This is reflected in a rate of growth of world trade in the Pacific rim estimated at about 11% on average in 2003/2004, which is more than three times the corresponding rate of growth of the overseas trade of the EU.