1、China and the world Inside the dynamics of a changing relationship July 2019 McKinsey Global Institute Since its founding in 1990, the McKinsey Global Institute (MGI) has sought to develop a deeper understanding of the evolving global economy. As the business and economics research arm of McKinsey i
2、t is not commissioned by any business, government, or other institution. For further information about MGI and to download reports, please visit China and the world: Inside the dynamics of a changing relationship Authors Jonathan Woetzel, Shanghai Jeongmin Seong, Shanghai Nick Leung, Hong Kong Joe N
3、gai, Hong Kong James Manyika, San Francisco Anu Madgavkar, Mumbai Susan Lund, Washington, DC Andrey Mironenko, Sydney July 2019 The relationship between China and the rest of the world appears to be entering a new phase. Chinas economic miracle was fueled by industry and investment, but today domest
4、ic consumption is the main driving force of growth. The country is becoming less exposed in economic terms to the rest of the world. However, reflecting Chinas rise to being the worlds second-largest economy and its leading trading nation, the rest of the world is becoming more exposed to China. The
5、se shifts have been accompanied by trade tensions and rising protectionism in many countries, raising the question whether we have reached a point of peak integration between China and the world. In this report, we look at the extent of Chinas global scale and integration, and highlight the findings
6、 of the new McKinsey Global Institute China-World Exposure Index. We examine the exposure of sectors and countries to the China-world relationship, with particular emphasis on the technology and consumer sectors. Finally, we simulate what value might be at stake for China and the rest of the world f