Stephen Roach on the Next Asia: Opportunities and Challenges for a New Globalization
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Customer Review
Good Insights and Data -
The book is a collection of essays written by Roach over the past three years reporting how the Asia story has played out to date, and how it looks for the future. Most of the book focuses on China, providing a wealth of background for understanding Roach's recommendations for the U.S. and China, and the direction of China's leadership.Nearly 80% of China's GDP goes to exports (30%) and fixed investment (50%). Since the early 1990s its per-capita income has increased 5X+. America accounts for about 4.5% of the world's population and about $10 trillion of spending in 2008; China and India together account for 40% of population and only $2.5 trillion on spending. America's economy has grown nearly 4%/year in real consumer demand over the past 15 years - 3X the growth in Japan and Europe. Seventy-two percent of the U.S. GDP in 2007 was consumer spending (a record), falling only to 71% currently.China's leadership recognizes the need to reduce reliance on exports -...
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Product Description
As Morgan Stanley's chief Asia specialist, getting Asia right is Stephen Roach's personal obsession, and this in-depth compilation represents more than 70 of Roach's key research efforts not just on Asia, but also on how the region fits into the broad context of increasingly globalized financial markets. The book argues that the "Asia factor" is not a static concept, but rather one that is constantly changing and evolving. Broken down into five parts–Asia's critical role in globalization; the coming rebalancing of the Chinese economy; a new pan-regional framework for integration and competition; and a frank discussion of the biggest risk to this remarkable transformation–this book will help readers understand and profit from the world's most dynamic region. Top to learn more
insightful collection of Stephen Roach's consistent views
This collection of essays has been collected over the years and aggregated into 5 chapters, each containing a subset of the essays associated with the themes. The heart of the book focuses on the global imbalances, the causes, effects and the risks, both political as well as economic that have evolved and need to be dealt with in a coordinated systematic manner.Much of the literature focuses on several major themes, 1- people cant globalize and decouple, they must be either or. 2 - the trading relationships that have emerged are inherintly unstable. 3 - the instability can be fixed but requires us to look from above at the problem in much greater degree than politicians tend to when they voice local constituencies. The major focus on the imbalance is on the American consumption side and their gross overconsumption to an unheard of degree.To be precise Stephen Roach talks in depth about the change in economic landscape such that the previous arena of...
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