YOu also know that volume on these chinese exchanges is sometimes exaggerated and not reported correctly? I'm not sure what the chinese numbers really are if they are fake.
This claim has been repeated thousands of times in the bitcoin media and forums, but never with substantive evidence. I have found hints that some of OKCoin's transactions (but not Huobi's) may be fake, but those won't reach 10% of that site's volume.A sufficient explanation for their large numbers is that the Chinese sites charge zero fees, so they attract more clients and each client generates more volume. That is not "fake volume". Moreover, as several sources pointed out, China already had a large population of amateur market speculators -- something that seems absent in the West.
On the other hand I suspect that a large fraction of the volume at the "Western" exchanges is merely arbitrage with China. If arbitragers generate (say) 25k BTC of trade per day on each side of the "frontier", it would be 50% of the Western volume but only 15% of the Chinese one, so the disparity would only increase.