Amid fresh trade tensions between the two biggest economies in the world, the IMF and World Bank's semi annual meeting of finance ministers and central bank governors began Monday in Washington.
US President Donald Trump responded angrily to China's announcement last week of new export limits on vital minerals, threatening to put fresh 100 percent tariffs on Beijing.
As investors processed the possibility of a renewed trade war, the news, which was released shortly after the US stock markets closed on Friday, sent shares falling after hours.
However, Trump toned down his language over the weekend, and by Monday morning, all three of the major Wall Street indices opened higher on the news, suggesting that traders had somewhat calmed down.
More significant activities are planned for later in the week, but both World Bank President Ajay Banga and IMF Managing Director Kristalina Georgieva are slated to speak in Washington on Monday.
Georgieva stated at a Washington event prior to the meetings that the global economy was performing "better than feared, but worse than we need."
The Fund now anticipates that global growth will drop "only slightly this year and next," she noted, supported by better-than-expected circumstances in the US and a few other developed, emerging, and developing nations.
The World Bank and IMF buildings, which are close to the White House, will host the yearly meetings.
With Banga scheduled to participate in a number of events meant to increase labor market participation in nations dealing with rapid population expansion, the World Bank's focus is probably going to continue to be on job creation.
Press conferences will be held by the IMF to discuss its three regular reports on global financial stability, fiscal policy, and the state of the world economy.
This week, another roundtable on Ukraine will take place. More than three years after Russia launched its full-scale invasion, the country continues to face almost daily drone and missile attacks.
"The needs for ongoing support to Ukraine and efforts needed for its reconstruction," the IMF said, will be discussed during the session.
A meeting of the G20 group of nations, which includes the United States and China, as well as meetings of finance ministers from the G7 group of advanced economies are also scheduled.
Trump's tariff proposals had already cooled growth and driven up prices by raising US import levies on goods to the highest level in decades before the latest trade dispute erupted.
But as of the now, "all signs point to a world economy that has generally withstood acute strains from multiple shocks," Georgieva stated last week in Washington.
"The world has avoided a tit-for-tat slide into trade war -- so far," she stated.
By referring to the tariffs' so far relatively mild economic impact, the White House maintains its insistence that the long-term effects will be favorable for the US.
