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Stephen S. Roach

Stephen S. Roach

Writing for PS since 2011
155 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 Accidental Conflict: America, China, and the Clash of False Narratives (Yale University Press, 2022).

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  1. China’s Policy Paralysis
    roach156_ JOHANNES EISELEAFP via Getty Images_chinese debt JOHANNES EISELE/AFP via Getty Images

    China’s Policy Paralysis

    Aug 24, 2023 Stephen S. Roach argues that the government’s muted stimulus is an attempt to wean itself off debt-intensive economic growth.

  2. US-China Decoupling by the Numbers
    roach155_Justin SullivanGetty Images_us china trade war Justin Sullivan/Getty Images

    US-China Decoupling by the Numbers

    Jul 26, 2023 Stephen S. Roach warns that targeted bilateral actions will not resolve, and could worsen, America’s outsize trade deficit.

  3. The Wrong Way to Manage US-China Relations
    roach154_LEAH MILLISPOOLAFP via Getty Images_blinkenxi Leah Millis/Pool/AFP via Getty Images

    The Wrong Way to Manage US-China Relations

    Jun 27, 2023 Stephen S. Roach warns that relying on a personalized approach to diplomacy will undermine efforts at conflict resolution.

  4. The AI Moment of Truth for Chinese Censorship
    roach153_GettyImages-AIcensorship Getty Images

    The AI Moment of Truth for Chinese Censorship

    May 24, 2023 Stephen S. Roach thinks the country is poorly positioned to capitalize on recent advances with large language models.

  5. The Economic Costs of America’s Conflict with China
    roach152_Anna MoneymakerGetty Images_janetyellen Anna Moneymaker/Getty Images

    The Economic Costs of America’s Conflict with China

    Apr 24, 2023 Stephen S. Roach highlights new research calculating output losses resulting from both sides' emphasis on national security.

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  1. haass159_ED JONESAFP via Getty Images_un general assembly ED JONES/AFP via Getty Images

    The New World Disorder

    Richard Haass highlights the growing threat to international stability and calls for effective cooperation.
  2. fraga4_ JUAN MABROMATAAFP via Getty Images_money JUAN MABROMATA/AFP via Getty Images

    Latin America’s Growth Conundrum

    Arminio Fraga, et al.

    Since 1960, only a few countries in Latin America have narrowed the gap between their per capita income and that of the United States, while most of the region has lagged far behind. Making up for lost ground will require a coordinated effort, involving both technocratic tinkering and bold political leadership.

    explain what it will take finally to achieve economic convergence with advanced economies.
  3. davies87_Justin SullivanGetty Images_svb Justin Sullivan/Getty Images

    We Need to Talk About Bank Supervision

    Howard Davies thinks the renewed debate over commercial bank capital requirements largely misses the point.
  4. skidelsky191_Hollie AdamsGetty Images_rorystewart Hollie Adams/Getty Images

    The New Anatomy of Britain

    Robert Skidelsky laments the decline of UK institutions and the increasingly limited scope for meaningful action.
  5. ilango1_Getty Images_esg Getty Images

    Financing Our Survival

    Vera Songwe

    Between now and the end of this decade, climate-related investments need to increase by orders of magnitude to keep the world on track toward achieving even more ambitious targets by mid-century. Fortunately, if done right, such investments could usher in an entirely new and better economy.

    explains what it will take to mobilize capital for the net-zero transition worldwide.
  6. ito31_EVELYN HOCKSTEINPOOLAFP via Getty Images_modibidenlulag20 Evelyn Hockstein/Pool/AFP via Getty Images

    Whither the G20?

    Takatoshi Ito sees the grouping as increasingly divided between friends of the G7 and friends of China and Russia.
  7. kitaw1_Per-Anders PetterssonGetty Images_africamining Per-Anders Pettersson/Getty Images

    Making the Most of Africa’s Strategic Green Minerals

    Marit Kitaw explains how the continent can move beyond resource extraction to build green industry.
  8. frankel128_ plus49Construction PhotographyAvalonGetty Images_emissions plus49Construction PhotographyAvalonGetty Images

    America Must Join Europe’s Climate Club

    Gary Yohe & Roger Kuhns urge US policymakers to create a carbon-pricing policy in line with the bloc’s emissions-reduction plan.
  9. ydeng1_ Feng LiGetty Images_chinapolicecorruption Feng Li/Getty Images

    Measuring Corruption in China

    Yongheng Deng & Shang-Jin Wei outline a novel approach to assessing the extent and scope of the country's graft problem.

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