If the world economy is stabilizing as some analysts suggest and many investors are betting, a couple of Asia’s biggest exporters didn’t get the memo.

Shipments of goods from Japan, the world’s third-largest economy, suffered their largest drop in three years in October, hurt not just by the U.S.-China trade war but also by extreme weather at home. Japan’s exports to South Korea slumped 23% amid a lingering dispute that’s soured trade relations between the two.

Another of East Asia’s manufacturing powerhouses, Taiwan, also showed ongoing weakness in overseas demand, though perhaps with some signs of bottoming. Taiwan’s export orders fell 3.5% in October, better than the expected 4.5% decline and the 4.9% drop in September.

That follows a mixed picture earlier this week from Singapore, where data showed better-than-expected demand for electronics, but exports overall still had their worst year-on-year showing since June.

Another health check on Asia will come Thursday when South Korea — the world’s trade canary — releases a reading on export demand for the first 20 days of the month. Where South Korea goes, others typically follow.

Taken together, the mixed set of numbers is a reminder that even amid some signs that the worst may be past for global demand, there’s still a lot hanging on whether or not the U.S. and China reach a deal.

And on that score, there may be a case to temper the optimism.

Hu Xijin, editor-in-chief  of China’s Global Times newspaper, tweeted Wednesday that few Chinese expect a deal soon — and even if one is reached, it “will be limited.” He also warned that China may be ready for a deal, but is prepared for a prolonged trade war.

U.S. President Donald Trump also sounded ready for either outcome. “I have a good relationship with China. We’ll see what happens, but I’m very happy right now,” he told reporters on Tuesday in Washington. “If we don’t make a deal with China, I’ll just raise the tariffs even higher.”