WASHINGTON DC - The 2025 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) opened Monday in Washington amid escalating trade tensions between the United States and China, with economists and financial leaders urging cooperation to safeguard global growth.
The event, running until Saturday, gathers financial leaders, civil society representatives, and academics from around the world to discuss the global economic outlook, financial stability, and poverty reduction, according to the IMF.
This year’s meetings are taking place against a complicated backdrop of renewed US-China trade friction, sparked by US President Donald Trump’s tariff threat on Friday, when he announced plans to impose a 100 percent tariff on Chinese goods “over and above any tariff that they are currently paying.”
Ida Zhao, a researcher at Shanghai Development and Research Center, told Rudaw that while differences between Washington and Beijing remain, both sides stand to benefit from collaboration.
“The US is the largest economy, while China is the second-largest economy in the world. So both economies are critically important for the promotion of the world economy,” Zhao said.
“Although there are differences in social systems and ideologies, and now the trade tension, I still think there is great opportunity for both economies to work together, which can make a great contribution to the world economy.”
Sharhan Muhseen, Chairman of the Commercial Bank of Ceylon, described the meetings as a vital forum for global decision-makers and policymakers.
“The World Bank-IMF event this year is a crucial forum for world decision-makers, stakeholders, and policymakers to come together to share ideas, discuss new initiatives, and prepare a plan for the next year,” Muhseen said.
He added that the event offers an opportunity to “learn from world best practices and share ideas about dealing with some of the key issues facing us today.”
Representatives from 190 countries, including Iraq and Syria, as well as dozens of merchants, bank managers, and financial experts, are attending the meetings. Several bilateral and side meetings between countries’ economic officials are also planned to strengthen cooperation.
