Latest articles by Stephen S. Roach
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Why Western workers are set to become poorer
Features What do the world's three largest economies have in common? The answer is that workers across the US, Japan and Europe are seeing barely any growth in wages, says Morgan Stanley's Stephen Roach.
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Why Stephen Roach is feeling bearish again
Features In May, well-known Morgan Stanley economist Stephen Roach said he was feeling more upbeat on the global economy than for some time. But the rapid bursting of the US housing bubble has him worried again...
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Why globalisation isn't a win-win situation
Features The 'win-win' theory of globalisation is in real trouble. Tensions are building up between the US and China, as middle-class Americans see their incomes squeezed as low-cost workers on the other side of the world threaten their white collar jobs. Stephen Roach of Morgan Stanley warns that a slide into protectionism is a strong possibility, unless something can be done to resolve the problem. But what?
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Is the world facing stagflation?
Features US inflation is above the Federal Reserve's comfort zone. But at the same time, America's economy looks like it's slowing down. More and more analysts are whispering the S-word - 'stagflation'. A severe slowdown in the US is certainly a possibility, says Stephen Roach of Morgan Stanley - but is inflation really set to take off?
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How risk aversion could threaten the global economy
Features We don't always agree with Morgan Stanley's Stephen Roach - but his opinions are certainly worth listening to. Widespread falls across all asset classes show that investors are rapidly losing their appetite for risk. Is there any reason for this - or does it just prove that bubbles are perfectly capable of bursting under their own weight? And if so, which asset classes are most vulnerable?
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The biggest risk facing investors in China and India
Features Financial commentators often ask which economy holds the best long-term prospects for investors - China or India? But it's not that simple, says Morgan Stanley's Stephen Roach. China wants to strengthen its services sector, while India believes a stronger manufacturing sector is the solution to rural poverty. But what will be left for the developed world if the Asian powerhouses succeed?
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Globalisation’s new underclass
Features Pushed as practically the solution to every economic challenge, globalisation has turned out to be anything but an unqualified blessing. A new and rapidly expanding underclass that is beginning to wield its political muscles and leading to greater risks of protectionism.
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Why the US economy's luck is running out
Features The US economy relies on the goodwill of its trading partners to keep it running, and yet protectionist sentiment continues to pour out of Washington. Morgan Stanley's Stephen Roach has recently returned from visits to China and Dubai - and what he found there will be very worrying for the US and its indebted consumers...
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Is the global economy really on the mend?
Features 'It seems like eternity since I was last optimistic on the world economy,' says the famously bearish Morgan Stanley economist Stephen Roach. But now he believes the world has turned a corner and the outlook is brightening. So is he right to be upbeat? Or is the conversion of this most bearish of commentators a warning sign for the rest of us?
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