CEO of UBS: The world cannot afford escalation of tension between China and U.S.

Chinese President Xi Jinping arrived in San Francisco, United States on November 14, marking the beginning of the highly anticipated second Xi-Biden meeting. Recently, Sergio P. Ermotti, the CEO of UBS, talked about China-U.S. relations at the 2023 Bloomberg New Economy Forum, stressing that "the world cannot afford an escalation." In his opinion, such escalation would impose an unbearable burden on the world and have severe economic consequences for both countries, consequences that neither country can afford.

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