Stephen S. Roach — China as Seen from a Glass House

Summary:
Good analysis excepting this: The plight of the US middle class has been framed as a blame game, with China and its alleged unfair trading practices singled out as the culprit. Yet the evidence points elsewhere: to a dramatic shortfall of domestic saving that leaves America dependent on surplus saving from abroad to fill the gap. The result is a multilateral trade deficit, with China and 101 other countries, required to provide the foreign capital needed for the balance of payments. Project SyndicateChina as Seen from a Glass House Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm's chief economist, now senior fellow at Yale University's Jackson Institute of Global Affairs and a senior lecturer at Yale's School of Management

Topics:
Mike Norman considers the following as important: China, Chinese economy, Chinese politics, Xi Jinping

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