Magazine article Newsweek International

Warnings for the Next Asia

Magazine article Newsweek International

Warnings for the Next Asia

Article excerpt

Byline: Rana Foroohar

When Morgan Stanley Asia chairman Stephen Roach talks, people listen--his opinions on the global economy have been known to shape policy from Beijing to Washington. For years, as the bank's chief economist, he was one of the Cassandras of the global economy, warning boom-day investors to be wary of the imbalances that eventually led to the financial crisis. Now, as its top executive in Asia, he's got a new book, The Next Asia, out this month. The warning this time: while Asia is rising, the coming power shift from West to East won't be as easy as everyone thinks. "It's a myth that the baton of economic leadership is being seamlessly passed to the BRICs, in particular China. My premise is there is still a lot of work to be done," says Roach.

Indeed, The Next Asia lays out in forensic detail the breadth and depth of Asia's economic imbalances, as well as the dangers of the continent's huge dependence on Western consumers. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.