As the relationship between the world's two largest economies, China-U.S. ties impact not only bilateral trade and economic exchanges, but also global market confidence and the stability of industrial and supply chains in the Asia-Pacific region, said Bruce McLaughlin, CEO of Sinogie Consulting Group, Australia.

BEIJING, May 16 (Xinhua) -- The high-profile meeting between Chinese President Xi Jinping and U.S. President Donald Trump in China's capital has been lauded by global institutions, experts and media practitioners as a powerful boost to global economic recovery and a positive signal for robust business opportunities.

"It's very important, of course, that the world's two largest economies are engaging at the highest level," Director of the International Monetary Fund's (IMF) Communications Department Julie Kozack said at a press briefing on Thursday.

Anything that helps reduce trade tensions and uncertainty is good for the two large economies and the global economy as well, Kozack added.

Tom Watkins, former advisor to the Michigan-China Innovation Center, pointed out that both Americans and Chinese as well as world leaders do not like instability and uncertainty, as investment flocks to predictability and stability.

"It behooves our respective leaders to provide a solid playing field on both sides of the Pacific so all can prosper and grow in peace," he said.

For instance, there is much room for the two countries to cooperate on artificial intelligence (AI) to ensure its safe and beneficial use, as well as on green technology and climate change, he added.

Bruce McLaughlin, CEO of Sinogie Consulting Group, Australia, noted that given the current international environment, global stability will increasingly depend on open, stable and rules-based trade and investment arrangements.

As the relationship between the world's two largest economies, China-U.S. ties impact not only bilateral trade and economic exchanges, but also global market confidence and the stability of industrial and supply chains in the Asia-Pacific region, he said.

In this sense, McLaughlin added, this summit could provide a valuable window for countries and businesses to strengthen economic cooperation and improve supply-chain networks.

For countries and companies, including those in Australia, stable China-U.S. relations can help reduce the costs caused by supply-chain fragmentation and duplication, and boost business investment and market expectations, he stressed.

Trump's visit to China has drawn extensive international attention as Washington and Beijing seek to stabilize bilateral ties amid ongoing geopolitical and economic uncertainties.

Mohamadi Compaore, a senior Ivorian journalist and publication director of the newspaper La Diplomatique d'Abidjan, expressed belief that improved cooperation between Beijing and Washington could help stabilize the global economy, secure supply chains and ease volatility in international commodity markets, thus becoming beneficial for many African economies reliant on raw material exports.

The evolving China-U.S. relationship may also create new opportunities for Africa in sectors such as infrastructure, energy, mining and manufacturing, said Compaore, noting that increased economic competition and cooperation between the two major powers could encourage greater investment and stronger strategic partnerships across the African continent.

Wilson Lee Flores, a columnist for the English-language daily The Philippine Star, said that the Asia-Pacific region benefits when major powers compete economically but cooperate strategically to preserve peace.

For many developing nations, including the Philippines, constructive China-U.S. relations would lessen uncertainty and encourage investments, tourism, educational exchanges, scientific cooperation, and regional growth, he said, adding that a calmer China-U.S. relationship would help regional manufacturing, semiconductor industries, logistics, agriculture exports, and investor confidence.

Trump wrapped up a state visit to China on Friday, the first U.S. presidential visit to China in the past nine years and his second since November 2017.