@AnonyMint: Actually I have a very similar outlook on the Chinese markets going forwards, but I was pointing out the flaw of Westerners (and USD probably easily owns well over 80%) today looking at the Chinese exchanges and letting their most likely fictitious numbers influence them. You're talking mostly about future possibilities however, not the current state.

I've heard people like Tuur DeMeester claiming that it's arbitrage that is pulling the btc-price on all other exchanges towards the Chinese ones, but I'm having a hard time buying that. I think most of the btc-market is in USD and they let themselves be lead by the nose, mostly by looking at bitcoinwisdom. So my question remains, why are the Westeners so fixated on the btc-price and volume on Chinese exchanges, when they are practically guaranteed that those numbers are faked?

If the blame lies with bitcoinwisdom and others portraying the Chinese numbers as reliable, then those sites should probably be notified of and take action against helping the fraud. Even if it only effects the non-Chinese market.