Stephen Roach

A rare combination of thought leadership on Wall Street and academia qualifies Stephen Roach as a leading practitioner of analytical macroeconomics. After thirty years at Morgan Stanley, mainly as the firm’s chief economist and eventually as the Hong Kong-based Chairman of Morgan Stanley Asia, he joined the Yale faculty in 2010 where he developed popular new courses — “The Next China” and “The Lessons of Japan.”

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A forecaster by training in his early days as a Fed economist, Stephen Roach has long been mindful of the perils of historical extrapolation. As seen through that lens, his vision of the “Next China” offers a unique template for the exciting but daunting possibilities of China’s uncertain future. Roach’s focus on the US-China relationship is an outgrowth of the interplay between two major strands of his professional experience—as a leading US economist and an influential analyst of a rising China. His two most recent books—Accidental Conflict (2022) and Unbalanced (2014)—draw extensively on that focus.

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Stephen Roach has a Ph.D. in economics from New York University and lives in New Canaan, CT.