Unbalanced: The Codependency of America and China

In his new book, Unbalanced: The Codependency of America and China, Stephen Roach examines the pitfalls of the current U.S.-China economic relationship. He highlights the conflicts at the center of current tensions, including disputes over trade policies and intellectual property rights, sharp contrasts in leadership styles, the role of the Internet, the recent dispute over cyber hacking, and more. Dr. Roach discussed these and related issues at a National Committee program on Thursday, February 13.

Stephen Roach is a senior fellow at Yale University’s Jackson Institute of Global Affairs and a senior lecturer at the Yale School of Management. He was formerly chairman of Morgan Stanley Asia and the firm’s chief economist for the bulk of his 30-year career at Morgan Stanley, heading a highly regarded team of economists around the world.

Dr. Roach’s current teaching and research focus on the impact of Asia on the global economy. He has introduced new courses for Yale undergraduates and graduate students on “The Next China” and “The Lessons of Japan.” His writing and research address globalization, trade policy, the post-crisis policy architecture, and the capital markets implications of global imbalances.

Stephen Roach’s work has appeared in academic journals and books; his views have been disseminated widely in the domestic and international media. He has testified before Congress and his opinions on the global economy have contributed to the policy debate from Beijing to Washington.

His most recent book, Unbalanced: The Codependency of America and China (Yale University Press, Jan. 2014), examines the risks and opportunities of what is likely to be the world’s most important economic relationship of the 21st century. His 2009 book, The Next Asia: Opportunities and Challenges for a New Globalization (Wiley), analyzes Asia’s economic imbalances and the dangers of the region’s excess dependence on overextended Western consumers.

Prior to joining Morgan Stanley in 1982, Dr. Roach served on the research staff of the Federal Reserve Board and was also a research fellow at the Brookings Institution. He holds a Ph.D. in economics from New York University. He is a member of the Council on Foreign Relations, the Investment Committee of the Metropolitan Museum of Art, the China Advisory Board of the Environmental Defense Fund, and the Economics Advisory Board of the University of Wisconsin.

Politics & Foreign Relations

Politics & Foreign Relations

Recorded 2/13/2014