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Stephen S. Roach

Stephen S. Roach

Writing for PS since 2011
145 commentaries
1 videos & podcasts

Stephen S. Roach, a faculty member at Yale University and former chairman of Morgan Stanley Asia, is the author of Unbalanced: The Codependency of America and China (Yale University Press, 2014) and the forthcoming Accidental Conflict: America, China, and the Clash of False Narratives (Yale University Press, November 2022).

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  1. Stephen S. Roach on US monetary tightening, China’s growth sacrifice, the Sino-American rivalry, and more
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    Stephen S. Roach on US monetary tightening, China’s growth sacrifice, the Sino-American rivalry, and more

    Nov 1, 2022 Stephen S. Roach says the US Federal Reserve remains mired in the quicksand of excessive monetary accommodation, warns the Communist Party of China against “premature overreach,” proposes a three-pronged strategy for easing Sino-American tensions, and more.

  2. Xi’s Conflict-Prone China
    roach145_Lintao ZhangGetty Images_xi jinping standing committee Lintao Zhang/Getty Images

    Xi’s Conflict-Prone China

    Oct 24, 2022 Stephen S. Roach writes that the 20th Party Congress confirmed that national security will take precedence over economic growth.

  3. Core Dangers for the Fed and China
    roach143_Drew AngererGetty Images_jerome powell Drew Angerer/Getty Images

    Core Dangers for the Fed and China

    Sep 27, 2022 Stephen S. Roach thinks the US central bank and Chinese governance share a conceptual weakness leading to major policy blunders.

  4. China’s Growth Sacrifice
    roach142_GREG BAKERAFP via Getty Images_xijinping Greg Baker/AFP via Getty Images

    China’s Growth Sacrifice

    Aug 23, 2022 Stephen S. Roach says that three factors have shaved nearly 3.5 percentage points from annual output gains since 2012.

  5. Deglobalization’s China Wild Card
    roach141_STRAFP via Getty Images_china trade STR/AFP via Getty Images

    Deglobalization’s China Wild Card

    Jul 25, 2022 Stephen S. Roach thinks the country that has benefited the most from global trade growth could now lose the most.

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    Will Crypto Survive?

    Kenneth Rogoff assesses the strategies regulators could adopt in the aftermath of the FTX debacle.
  2. spence156_SAUL LOEBAFP via Getty Images_bidenxi Saul Loeb/AFP via Getty Images

    Done With Deglobalization?

    Michael Spence sees reason to hope that the scales may soon tip back from international confrontation to cooperation.
  3. velasco131_Chris McGrathGetty Images_bitcoin Chris McGrath/Getty Images

    The Unbearable Uselessness of Crypto

    Andrés Velasco explains why FTX's collapse should sink a hyped-up lie bobbing on an ocean of libertarian technobabble.
  4. sinn107_Sean GallupGetty Images_germanyenergycoal Sean Gallup/Getty Images

    Is Germany Sick Again?

    Hans-Werner Sinn pours cold water on the fantasy that European economies can weather gas shortages with minimal pain.
  5. op_stiglitz6_Anna MoneymakerGetty Images_USabortionprotest Anna Moneymaker/Getty Images

    America's Silent Progressive Majority

    Joseph E. Stiglitz

    Now that the American electorate appears to have rejected Republican extremism, many will argue that US President Joe Biden and the Democrats should tack right to capture centrist voters. But this would be a mistake, given where voters' preferences increasingly lie.

    considers what the midterm election results indicate about voters' real priorities.
  6. jlevy2_Geo. P. Hall & SonThe New York Historical SocietyGetty Images_railroad Geo. P. Hall & Son/The New York Historical Society/Getty Images

    Big Tech Gets Derailed

    Jonathan Levy traces the origins of the sector's recent turmoil to the nineteenth-century rise of the corporation.
  7. BQ – West Give in to Russia NurPhoto / Contributor via Getty Images

    Will the West Give in to Russia?

    From soaring inflation to a deepening energy crisis, the United States and Europe are facing no shortage of economic challenges, and Russia’s war against Ukraine – and the sanctions imposed in response to it – bears much of the blame. As Russia launches new rounds of missile attacks, we asked PS commentators what the West should be doing for Ukraine – and how likely it is to do it.

  8. varoufakis97_SAMUEL CORUMAFP via Getty Images_musktwitter Samuel Corum/AFP via Getty Images

    The Techno-Feudal Method to Musk’s Twitter Madness

    Yanis Varoufakis explains that the issue is neither vanity nor public service, but rather the need to acquire cloud capital.
  9. tmeyer2_Drew AngererGetty Images_supremecourtclimateprotest Drew Angerer/Getty Images

    The Case for Mandating Climate-Risk Disclosure

    Timothy Meyer, et al. defend the legal and economic justification for the US Securities and Exchange Commission's proposed new rule.

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