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Stephen S. Roach

Stephen S. Roach

Writing for PS since 2011
164 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 Rebalancing Imperative
    op_roach3_ Kevin FrayerGetty Images_china lagging consumption Kevin Frayer/Getty Images

    China’s Rebalancing Imperative

    Apr 19, 2024 Stephen S. Roach explains why the Chinese authorities should switch to a consumption- and productivity-led growth model.

  2. China Stifles Its Own Debate
    roach164_PEDRO PARDOPEDRO PARDOPOOLAFP via Getty Images_china development forum PEDRO PARDO/POOL/AFP via Getty Images

    China Stifles Its Own Debate

    Apr 12, 2024 Stephen S. Roach bemoans the transformation of the country’s most important platform for open dialogue into a schmooze-fest.

  3. American Sinophobia
    roach163_ROBERTO SCHMIDTAFP via Getty Images_mikegallagher Roberto Schmidt/AFP via Getty Images

    American Sinophobia

    Mar 27, 2024 Stephen S. Roach warns that fear has driven US policymakers to level a litany of unsubstantiated charges against China.

  4. The Drums of US-China Cyber War
    roach162_Kevin DietschGetty Images_christopherwray Kevin Dietsch/Getty Images

    The Drums of US-China Cyber War

    Feb 27, 2024 Stephen S. Roach worries that irrational Sinophobia has become America's new bipartisan political orthodoxy.

  5. China’s Imagination Deficit
    roach161_Tao ZhangGetty Images_china Tao Zhang/Getty Images

    China’s Imagination Deficit

    Jan 26, 2024 Stephen S. Roach warns that the government’s response to tough problems is being driven by stale tactics and ideology.

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  1. klee19_Gerhard JorenLightRocket via Getty Images_hyundaimanufacturing Gerhard Joren/LightRocket via Getty Images
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    What Fiscally Sound Industrial Policy Can Do

    Keun Lee highlights three tools that can support domestic-market growth and development without breaking the bank.
  2. boskin94_Elijah NouvelageGetty Images_voting ANDREW CABALLERO-REYNOLDS/AFP via Getty Images
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    Why Voters Are Unhappy About the Biden Economy

    Michael J. Boskin explains why Americans do not share the White House’s rosy assessment of its economic track record.
  3. ginsberg1_Tayfun CoskunAnadolu Agency via Getty Images_january6journalistviolence Tayfun Coskun/Anadolu Agency via Getty Images
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    Our Freedoms Depend on Press Freedom

    Jodie Ginsberg warns that the increased targeting of journalists and the media is a key indicator of democratic erosion.
  4. balasegaram2_JOHN WESSELSAFP via Getty Images_africaflood John Wessels/AFP via Getty Images
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    Climate Change Is a Worse Health Threat Than We Think

    Manica Balasegaram warns that the world is underestimating the extent to which global warming will fuel antimicrobial resistance.
  5. delong259_ChesnotGetty Images_musk Omar Marques/Getty Images
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    Musk Has Made Tesla a Meme Stock

    J. Bradford DeLong

    Although Tesla appears to be wildly overvalued compared to rival automakers, its shareholders are betting that they can sell their holdings to a greater fool in the near future, and Elon Musk is eagerly indulging their speculative exuberance. None of it bodes well for company’s workers, suppliers, and other customers.

     worries that the first mover in electric vehicles is increasingly running on bucket-shop hype.
  6. buchholz15_Al Drago-PoolGetty Images_yellen Al Drago/Pool/Getty Images
    1

    The US Treasury’s Bond Blunder Will Cost Gen Z Dearly

    Todd G. Buchholz & James Carter thinks the US should have locked in favorable borrowing rates when it had the chance.
  7. james217_ Christopher FurlongGetty Images_gold Christopher Furlong/Getty Images
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    What’s Driving the Global Gold Rush?

    Harold James considers the political factors pushing the price of the “barbarous relic” to all-time highs.
  8. stiglitz333_ Chip SomodevillaGetty Images_bidentrump Chip Somodevilla/Getty Images
    3

    Global Elections in the Shadow of Neoliberalism

    Joseph E. Stiglitz

    While scandals, culture wars, and threats to democracy dominate the headlines, the biggest issues in this super election year ultimately concern economic policies. After all, the rise of anti-democratic populist authoritarianism is itself the legacy of a misbegotten economic ideology.

     considers what 40 years of anti-government, low-tax, deregulatory advocacy have wrought around the world.
  9. terzi6_green transition degrowth Getty Images
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    Averting Climate Catastrophe Requires Economic Growth

    Alessio Terzi & Gernot Wagner show why shrinking the global economy, as envisaged by advocates of degrowth, is a bad way to cut emissions.

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