The window of opportunity to keep global growth on track is "narrowing" amid trade disputes and emerging markets crises, the IMF said Saturday, and cautioned against currency wars as a US-China spat threatens to boil over.

The warning from the International Monetary Fund came at its annual meeting with the World Bank in Bali, after it cut its outlook for global GDP growth this week by 0.2 percentage points to 3.7 percent for 2018 and 2019.

US Treasury Secretary Steven Mnuchin pushed back Saturday against warnings that the Washington's trade fight with China imperils the world economy, saying that pushing Beijing to open up will be good for all.

Global stock markets rebounded Friday, one day after ferocious losses sparked by heightened economic concerns, notably over rising U.S. interest rates that have drawn attacks from President Donald Trump on his "crazy" central bank.

U.S. Treasury Secretary Steven Mnuchin said Friday he had told the head of China's central bank about his concerns over the weakness of China's currency.

Treasury Secretary Steven Mnuchin said Friday the US economy remains strong, and the recent decline in the stock market was "just a natural correction."

After two days of sharp declines in US and global stock markets over fears of rising interest rates and the US trade conflicts, Mnuchin said in an interview on CNBC that markets "tend to go too far in both directions" and will have natural corrections.

China's trade surplus with the United States ballooned to a record $34.1 billion in September, despite a raft of US tariffs, official data showed Friday, adding fuel to the fire of a worsening trade war.

IMF chief Christine Lagarde on Thursday defended central bank rate hikes in a veiled rebuke to Donald Trump after the US president blamed "crazy" Fed policies for contributing to financial market turmoil.

Britain will have to accept limited new administrative controls on trade with Northern Ireland in any negotiated Brexit deal, Europe's chief negotiator warned on Wednesday.

Brazil's stock market took a dive Wednesday after far-right presidential frontrunner Jair Bolsonaro defined limits for his privatization plans for the country's huge energy sector, specifically to keep key assets out of Chinese control.

US Treasury Secretary Steven Mnuchin warned China on Wednesday against engaging in competitive currency devaluations as the two countries wage a trade war, in comments published in the Financial Times.

There are several factors behind the recent fall in the Chinese yuan, or renminbi (RMB), including economic issues in China, Mnuchin he told the newspaper ahead of meetings in Bali, Indonesia of the IMF, World Bank and G20.