A big, one-off devaluation of China's yuan is a remote risk: UBS

2:13 AM ET Wed, 7 Aug 2019

If the latest U.S. tariffs on $300 billion of Chinese goods move up from 10% to 25%, the American economy will be in "far worse shape" than the rest of the world in six months' time, says Kelvin Tay of UBS Global Wealth Management.