Correct, even though US does not export a lot to Europe, other countries in that list do, and they are already feeling the pinch of European contraction going on as we speak. The world economy is indeed intertwined, no way getting away from that.
Every previous worldwide economic slowdown began with sudden problems erupting in a single country or area.
Given that the US is the hub.... if the US catches a Obama cold, that will affect many as pnuemonia.