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Stephen Roach

  • Thursday, 17 April, 2025
    Trump tariffs
    The Chinese Dream is to Xi what Maga is to Trump

    Tariff conflict arises out of the collision course between two very different political mindsets

    Xi Jinping in 2012
  • Friday, 13 December, 2024
    Markets InsightUS-China trade dispute
    China’s Trump cards in the coming trade war escalation

    US policymakers should think more about retaliatory responses to probable tariff increases

    A montage of a person in a cleanroom suit holding a semiconductor wafer with the Chinese national flag in the background along with an inset showing a bustling shipping port
  • Monday, 30 September, 2024
    Markets InsightChinese economy
    Why China needs a ‘Three Arrows’ strategy

    Beijing should err on the side of acceptance rather than denial and make major efforts to avoid the mistakes of Japan

    China’s President Xi Jinping walks to the podium during a reception on the eve of National Day at the Great Hall of the People in Beijing.
  • Monday, 12 February, 2024
    Markets InsightHong Kong
    It pains me to say Hong Kong is over

    The stock market is likely to remain in the mire until we see convincing economic measures from Beijing

    The city’s skyline at dusk in Hong Kong
  • Monday, 21 August, 2023
    Markets InsightGlobal Economy
    China’s ‘whack-a-mole’ economic playbook leads to confusion

    Policymakers are flailing in tackling the problems of its weak blended economy

    Pedestrians pass stores in Guangzhou, China
  • Tuesday, 18 July, 2023
    US-China relations
    The old approach to US-China relations no longer works

    A new architecture of engagement, based on a Sino-American secretariat, is urgently needed

    Xi Jinping meets Joe Biden on the sidelines of the G20 summit in Bali last year
  • Thursday, 4 August, 2022
    US-China relations
    Two insecure superpowers stumble towards collision over Taiwan

    Just as Russia has cited Nato enlargement to justify its Ukraine invasion, China may see US support for Taipei as a tipping point

    Nancy Pelosi and Tsai Ing-wen wear face masks and stand side by side waving
  • Wednesday, 13 October, 2021
    Central banks
    The sequencing trap that risks stagflation 2.0

    Today’s generation of central bankers is afflicted with the same sense of denial that proved problematic in the 1970s

    Twilight picture of the Federal Reserve building in Washington DC. Central bank such as the Fed haven’t a clue about the links between their asset holdings and the forces of supply and demand that are currently wreaking havoc on inflation
  • Sunday, 6 December, 2020
    US-China trade dispute
    Three priorities for the US to de-escalate the China conflict

    Small steps will be needed to rebuild trust but there are gains to be made on trade and dialogue

    The US and China need improved access to each other’s markets in order to promote long-term growth
  • Monday, 5 October, 2020
    Global Economy
    The end of the dollar’s exorbitant privilege

    A crash is likely given the collapse in US domestic saving and a gaping current account deficit

  • Wednesday, 6 May, 2020
    Global Economy
    A return to 1970s stagflation is only a broken supply chain away

    The death of inflation has been exaggerated and after the pandemic we may need it

    Cars queuing at a petrol station on Woodford Avenue, London, during a petrol shortage, December 1973. (Photo by Evening Standard/Hulton Archive/Getty Images)
  • Tuesday, 7 March, 2017
    US trade
    Donald Trump is suffering from trade deficit disorder

    The temptation to punish China with tariffs is an example of a misguided approach

    Shipping containers sit stacked in a commercial yard at the Port of Everglades in Fort Lauderdale, Florida, U.S., on Friday, Jan. 29, 2016. The U.S. Census Bureau is scheduled to release international trade balance figures on February 5. Photographer: Ty Wright/Bloomberg
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