BEIJING — When dozens of world leaders gather for a summit meeting in Washington on Thursday, President Obama will meet privately with only one of them: President Xi Jinping of China.

The one-on-one session signals the importance of the relationship, as a rising China seems determined to be the dominant player in Asia, and the United States vows to retain its power in the Pacific. But relations between the two countries are at their lowest point in 15 years. China’s military expansion in the South China Sea may be the most prominent point of friction, but it does not help that China is distracted by a slowing economy and that trade with China has become a cudgel in the American presidential campaign.

Expectations that anything of substance will be accomplished in the 90-minute meeting between Mr. Obama and Mr. Xi are minimal. So it may be surprising that some analysts here and in the United States say it would be relatively easy for the two leaders to ease tensions.

Mr. Xi could pledge not to go any further in militarizing disputed islands, said Shi Yinhong, a professor of international relations at Renmin University in Beijing. In return, he said, the Americans could agree to stop sending warships and aircraft on “freedom of navigation” patrols into territory claimed by China.