China, US could win big on no-deal Brexit: UN

If Britain leaves the EU without a deal, the bloc and Britain's smaller trading partners stand to lose big, but Beijing and Washington could reap huge benefits, the UN said Tuesday.

In a fresh report, the UN Conference on Trade and Development (UNCTAD) examined what repercussions it would have for Britain's trading partners if the country crashes out of the European Union without a deal.

The report, titled "No-deal Brexit: the trade winners and losers", came out as British Prime Minister Theresa May pleaded with EU leaders to provide an extension to the deadline for Brexit to avoid leaving with no deal on April 12.

The UNCTAD report warned that if Britain did exit the bloc without a proper divorce deal, it "would significantly alter market access conditions in the United Kingdom both for developing and developed countries."