World markets are in need of positive news as concerns over Greece's situation grow and China's latest data points to economic slowdown, according to CNBC's Jim Cramer.
"You've got to give us something good overseas," Cramer said on CNBC's "Squawk on the Street" Monday. "There isn't a single area, except maybe India, where you're getting any good news."
Cramer made his remarks after China announced its imports plummeted about 20 percent from last year. China's exports also dropped about 3 percent from last year. Greek Prime Minister Alexis Tsipras also said Monday that the country would not be seeking an extension of its current bailout, which expires Feb. 28.
"I think we're underestimating this port strike [in the West Coast]," Cramer added. "This port strike is going to shave some GDP. It's that big." The West Coast seaports handle about $1 trillion in trade every year and serve as the main ports of trade between the U.S. and Asia.
U.S. markets opened lower Monday morning, as did the Dow. (
Cramer said some company earnings reports are positive. "Masco [reported earnings], and I like it," he said. "Hasbro's report is, like, 10 times better than Mattel." Both Masco and Hasbro released quarterly earnings reports on Monday that beat Wall Street's estimates.
As for Greece, he said that a new plan needs to be implemented soon. "Here's my plan: We extend their debt seven years," Cramer said. "We don't cancel their debt; we extend it seven years."