Malaysia's latest export figures in dollar terms look terrible.

CNN: FANTASYLAND STOCK RALLY

China is now the No. 3 in terms of U.S. export markets, trailing NAFTA partners Canada (No. 1) and Mexico (No. 2).

FORBES: U.S. Helps Keep China Exports Flowing

That is because European, South Korean and Japanese yards are able to offer easy financing terms thanks, among other things, to government export-credit guarantees.

ECONOMIST: Shipping