President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
The world economy is set for one of its best years since the global financial crisis, with both developed and emerging countries growing while inflation is still subdued and monetary conditions remain largely accommodative.
But such a good run could end in the next two to three years, according to UBS Chairman Axel Weber.
"We're at the end of a long recovery and, two to three years from now, at the latest, some of the risks could materialize. The recession risks are increasing," Weber told CNBC's Joumanna Bercetche this week at the Spring Meetings of the International Monetary Fund and the World Bank.
The IMF this week kept its forecast for 2018's global growth at 3.9 percent which, if it materializes, would be the fastest expansion since 2011. But the agency warned that global debt levels have hit a record, and governments should start reducing their indebtedness and build buffers for "challenges that will unavoidably come in the future."
Financial institutions should also brace for such risks, said Weber, adding that he thinks banks have become better prepared compared to before the last crisis.
But, he added that it's time to reassess Beijing's role in the World Trade Organization, especially given projections that China will one day become the world's largest economy. Weber added that companies from around the world should be allowed to do business in China more freely.
There are already some signs of China opening up: UBS last year became the first foreign bank to receive a license that allows its wholly-owned asset management unit in China to service domestic institutional and high-net-worth investors.
"When we do business in China, we do it in the form of (joint ventures). We should be able to go in on our own or partnerships in Chinese subsidiaries above 50 percent or even 100 percent," he explained.
"That's the way global institutions should be able to do business in China," he added.