Stephen Roach will trade in his role as chairman of Morgan Stanley Asia to become a non-executive chairman, as he relocates to New York and joins the faculty of Yale University.
Two bookends delineate the current macro debate -- the Asian financial crisis of 1997-98 and the US subprime crisis of 2008-09. China was remarkably adept at avoiding both of these conflagrations. Will it be so lucky next time?
Last night in Hong Kong, Charles Evans of the Federal Reserve and colleagues from the Bank of England and Bank of Japan discussed the challenges central bankers face as pressure builds for them to preempt the next financial crisis.
Renowned economist and chairman of Morgan Stanley Asia, Stephen Roach, says a prolonged economic downturn in the US could lead to protectionist trade policies.
Morgan Stanley's outgoing chief economist, Stephen Roach, sums up his 25-year journey by offering three macro milestones which he says stood out over the period.
A slowdown in US consumption and Chinese output will lead to a setback. Protectionist measures from the US are seen as the biggest risk to global markets, says Roach.