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Stephen S. Roach

Stephen S. Roach

Writing for PS since 2011
173 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. Trump’s Trade Scam
    roach174_Christopher FurlongGetty Images_trump Christopher Furlong/Getty Images

    Trump’s Trade Scam

    Jan 24, 2025 Stephen S. Roach points out that the new “External Revenue Service” would target domestic importers, not foreign producers.

  2. China’s Struggles with a Consumer Society
    roach173_CFOTOFuture Publishing via Getty Images_chinashopping C FOTO/Future Publishing via Getty Images

    China’s Struggles with a Consumer Society

    Dec 19, 2024 Stephen S. Roach wonders whether the country’s political system is at odds with the values underpinning affluent societies.

  3. Asia in Denial
    roach172_Anthony KwanGetty Images_asia economy Anthony Kwan/Getty Images

    Asia in Denial

    Nov 26, 2024 Stephen S. Roach warns of misguided optimism about the state of China’s economy and Donald Trump’s tariff agenda.

  4. Sinophobia and US Election Lies
    roach171_David McNewStringerGettyImages_antichina_trump_supporter David McNew/Stringer/Getty Images

    Sinophobia and US Election Lies

    Oct 28, 2024 Stephen S. Roach laments that facts – especially about China – are in short supply as the presidential race tightens.

  5. China Is Missing in America’s Election Debate
    op_nathan1_ GREG BAKERAFP via Getty Images_china uighur Greg Baker/AFP via Getty Images

    China Is Missing in America’s Election Debate

    Sep 25, 2024 Stephen S. Roach laments the US presidential candidates’ unwillingness to discuss constructive solutions to tough problems.

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  1. toni4_Dominika ZarzyckaSOPA ImagesLightRocket via Getty Images_cop30 Dominika Zarzycka/SOPA Images/LightRocket via Getty Images
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    How to Make COP30 a Climate Turning Point

    Ana Toni sees the main task in Belém, Brazil, as accelerating the implementation of existing agreements.
  2. roach174_Christopher FurlongGetty Images_trump Christopher Furlong/Getty Images
    1

    Trump’s Trade Scam

    Stephen S. Roach points out that the new “External Revenue Service” would target domestic importers, not foreign producers.
  3. mackintosh8_Murat TanerGettyImages_fed_building Murat Taner/Getty Images
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    The Fed Is Running Scared of Trump

    Stuart P.M. Mackintosh observes that political pressure is already undermining independent, data-driven decision-making.
  4. buchholz22_Kayla BartkowskiGettyImages_tiktok_ban Kayla Bartkowski/Getty Images
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    Beware the TikTokalypse

    Todd G. Buchholz thinks calls to reverse the app’s ban or forced sale are based on a misunderstanding of its security risks.
  5. slaughter108_Iranian PresidencyAnadolu via Getty Images_BRICS Iranian Presidency/Anadolu via Getty Images
    1

    Middle Powers and the Art of the Deal

    Anne-Marie Slaughter foresees the world under Donald Trump becoming like a bazaar, to the benefit of multi-aligned countries.
  6. op_bivens1_JIM WATSONAFP via Getty Images_bidenworkers Jim Watson/AFP via Getty Images
    3

    America’s Workers Are About to Be Forgotten Again

    Josh Bivens & Heidi Shierholz

    Whatever his failings, Joe Biden did more for the typical American working family than any other president in at least a generation. Tragically, Americans who remain angry about chronic economic injustices will soon realize that the situation can get much worse.

     contrast the Biden administration's pro-worker policies with what Donald Trump is likely to do.
  7. ghosh84_NurPhotoGettyImages_wind_power_grid NurPhoto/Getty Images
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    Decommodify Electricity

    Jayati Ghosh shows why the market cannot mobilize the clean-energy investments needed to accelerate the green transition.
  8. moyo31_VCGVCG via Getty Images_semiconductors VCG via Getty Images
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    Three Reasons Why AI’s Momentum Could Stall in 2025

    Dambisa Moyo

    While artificial intelligence has the potential to drive global growth and boost productivity, the industry is grappling with mounting challenges like soaring development costs and energy requirements. Meanwhile, investors are questioning whether AI investments can deliver meaningful returns.

     identifies three negative trends that could stifle innovation and slow the pace of technological progress.
  9. arezki20_Miguel CandelaSOPA ImagesLightRocket via Getty Images_indiamanufacturing Miguel Candela/SOPA Images/LightRocket via Getty Images
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    Solving India’s Industrialization Puzzle

    Rabah Arezki & Partha Sen ask why, unlike Bangladesh and Vietnam, manufacturing has not benefited from rising labor costs in China.

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