Today, people all over the world are FedExing like never before, giving Mr Smith a unique perspective on the outlook for world trade.

ECONOMIST: Face value

The contraction of imports for processing trade does not bode well for the export outlook either.

FORBES: After Weak Imports, Investors Say 'China Down But Not Out'

Fellow Dow Jones industrial average component 3M also slashed its outlook for the year, while United Parcel Service blamed slower global trade for its earnings whiff.

FORBES: Stocks Mauled As Major Misses From DuPont, UPS Overshadow Apple's iPad Mini

"The sharp deterioration in trade shaves a bit from the outlook for growth in the first quarter, " said Diane Swonk, chief economist at Mesirow Financial in Chicago.

BBC: US trade deficit widens in January

Projections in the IMF's World Economic Outlook imply that China's exports will account for 12% of world trade by 2014.

ECONOMIST: China's export prospects

The state of trade survey of 400 firms across the UK suggested a "bleak" outlook for 2013.

BBC: Cargo containers being unloaded