It's a new summer for the World Economic Forum's Annual Meeting of the New Champions in Dalian, also widely known as 'Summer Davos,' and the world's second-largest economy once again becomes the focal point of international finance. As is often the case, there is a set of data-driven charts that offers the world the best possible glimpse of where China's economy has been and where it might be going. Of all the economic transformations witnessed during the course of modern history, it is hard to think of many that even begin to compare with China's ascent to world exporter status. Just a generation ago, in 1980, world goods and services exports accounted for virtually nothing in world standards.
Now? The latest World Bank data estimates total goods and services exports at $3.77 trillion, which, admittedly, came with dips and plateaus throughout the period but ultimately presents a story of unbroken expansion, with physical goods accounting for the vast majority and services sectors rapidly growing. This just proves that while all other countries continue to surge forward in terms of services, China is still maintaining its status as the world's manufacturer in terms of the actual goods exported, physical output. Every year, the growth rate of GDP of China regularly used to exceed 10% (especially in the decade before the last 10 years when industrialization boomed and the global supply chain grew dramatically). However, 10% GDP growth each year is a distant memory. China is targeting 5% in 2026, which is still very fast for any country in the world to grow. Manufacturing has obviously been a major problem for the world in the last few decades, but renewable energy has been nothing but a concern. Exports to every country reached 68GW in a single month for the first time in March 2026, and previous years had not exceeded 30-45GW. These all come according to Ember and comprise solar cells, panels, and wafers.
These exports represent China's total domination of the solar market, both as producer and as supplier, and this domination gives it huge political leverage and potential economic benefits in the fight for a green energy future worldwide. Chinese EV exports were not anywhere on our radar until 2022, when they came in at under a billion dollars per month. Today, the monthly total reaches 9.1 billion dollars; again, that reflects an incredible growth spike driven by demand from all over the world for affordable electric vehicles. And it's not slowing down either, as Chinese automakers set their sights on export markets in the Middle East, South Asia, Latin America, and even into portions of the European markets that once were the sole purview of companies from Europe.
However, not all data points were a triumph for the Chinese economy. The retail sales of consumer goods showed a paltry growth of 0.2% in year-over-year numbers as of April 2026, which is the lowest recorded figure since the previous 2022 data. After an initial, post-pandemic surge of enthusiasm for consumerism, domestic spending seems to have not been able to catch its breath, and economists are pinpointing consumer debt, unemployment among youth, and cautious consumerism as the key reasons. Reviving consumer spending in China remains the most important objective for the government if the economy is to move toward less investment-dependent and more export-independent growth.
Overall, all five charts tell the story of a dual-facing Chinese economy. China is currently the dominant exporter and a leader in clean energy and growing fields, and yet it has not been immune to the economic slowdown of today or the potential threat to consumption and geopolitical pressures that continue to bear down on the Chinese economy, with the discussions in Dalian taking on even greater international importance now that China's economic destiny, in some ways, may have determined the world’s.
