With oil prices down sharply, the fall in exports from Mexico, for example, may be overstated.
The four countries took $7 billion in exports from the United States last year and accounted for about $9.8 billion in imports.
Indeed, China's handmade Oriental rug exports to the United States, for example, rose 28percentt in volume from 2001 to 2002, outpacing a gain in exports from Iran.
PAGE C4 JULY IMPORTS OUTPACE EXPORTS The trade deficit reached a 16-month high in July despite a 3.3percentt increase in exports from June.
Saudi Arabia has repeatedly said it would increase production if needed to make up for any decline in exports from Iran, its longtime regional rival.
Executives at Sojitz said that despite the resumption in exports from China, the company felt the need to forge links with other suppliers.
Mr. Smith said some experts had underestimated the severity of the slowdown in exports from China, where FedEx invested heavily over the last several years by adding new planes to export goods and by expanding its hubs and network.
While growth in exports from all other English regions have slowed this year, growth in the West Midlands has surged and the area is likely to outperform London in 2014.
First, the global backdrop: Factors tightening supplies include harsh weather in Europe, a cutback in exports from producers like Syria, Yemen and South Sudan, growing demand from India and China, and, increasingly, international measures imposed on Iran.
The fall of the dollar against the yen after the Plaza Accord of 1985 led to a surge in Japanese investment in South-East Asia, and in exports from the region.
