This chart shows how China has quickly become a trading partner that matters

China's been front-and-center over the last few weeks with its volatile stock market and its devaluation of its currency.

Some analysts even attribute the ongoing volatility in the markets to "developments abroad" - aka to China.

So taking all of that into account, it's worth looking at how exposed other economies are to the so-nicknamed Middle Kingdom.

In a recent note to clients, US Trust, Bank of America Private Wealth Management chief market strategist Joseph P. Quinlan shared a chart showing how China boomed into the major driver of global trade over the last 15 years .

Back in 2000, just five countries considered China as their top export market, while a whopping 53 said the same about the US. Fast-forward to 2014, and you see that, as Quinlan puts it, "today, it's China more so than the US." 43 countries count China as their main export partner now, compared with just 31 saying the same about the states.

"The bottom line - as one of the world's largest importers, a prolonged and deep economic downturn in China will be felt globally, notably among the world's top commodity producers," writes Quinlan. "Case in point: Brazil, whose economic downturn deepened in the second quarter as a result of, in large part, swooning exports to China. After declining nearly 12% in 2014, Brazil's exports to China plunged by nearly one-third in the first four months of this year versus a year ago."

"China's economic slowdown is not happening in isolation, and not without global repercussions," he added.