Are these three things connected?

1. The BBC says: China's trade surplus unexpectedly fell in February, suggesting the US slowdown is hitting demand for Chinese goods.
   
2. Global Sources share price is $11.28, a hair above its 52 week low of $10.61.
   
3. Alibaba.com's share price is HK$17.18, again a hair above its all time low of $16.34.
   

Surely no coincidence.

Mind you, at the same the Hong Kong Trade Development Council is reporting record crowds for its March jewellery show. That event may be less dependent on the US market or non-Asian buyers than others, but it will be worth keeping a very close watch on the upcoming trade fairs to get a clear sense of how the economic downturn is biting. They can be a very efficient barometer.