Central banks adopt damage limitation mode with looser policy ahead.
Still no China deal in sight but US president eases tensions with France and Japan.
US president said he would impose new tariffs on US$300 billion of Chinese imports.
Japan moves to increase controls on the export of a broad assortment of products to South Korea, dramatically raising the stakes in a political standoff that has plunged relations between the countries to their lowest point in decades.
International financial institutions designed 75 years ago are no longer fit for purpose.
Global growth remains subdued. Since the April World Economic Outlook (WEO) report, the United States further increased tariffs on certain Chinese imports and China retaliated by raising tariffs on a subset of US imports.