The world has become more economically exposed to China at a time when the Asian giant is increasingly relying on its own consumers to boost growth, according to a July report by consultancy McKinsey and Company.

The findings by McKinsey come as China is locked in a year-long tariff fight with the U.S. that has spilled into areas such as technology and security. Economists generally predicted that the Chinese economy — instead of the U.S. — will experience a larger hit from elevated tariffs partly due to the Asian country's relatively heavier reliance on exports.

But the report by McKinsey found that consumption contributed to more than 60% of China's growth during 11 out of 16 quarters — from January 2015 to December 2018.

That means China's economy has been reducing its reliance on trade as a source of growth. In fact, the study found that China's net trade — the value of total exports minus that of imports — "actually made a negative contribution" to growth last year.

"I think that's one of the things they're trying to do: To build a more robust, a more diversified economy," Oliver Tonby, McKinsey's chairman in Asia, told CNBC's "Squawk Box" on Monday.