Columnnist

Stephen S Roach

Writer

Stephen S Roach
25 Nov 2014

China springs monetary surprise

In economic policy, as in most other areas, actions speak louder than words. By cutting its benchmark policy interest rates, the People's Bank of China (PBOC) has underscored the tactical focus of the government's stabilisation policy, which aims to put a floor of around 7% on GDP growth.

25 Nov 2014
29 Jun 2014

A delicate balancing act

Early this month, senior US and Chinese officials will gather in Beijing for the sixth Strategic and Economic Dialogue. With bilateral frictions mounting on a number of fronts — including cyber security, territorial disputes in the East and South China Seas, and currency policy — the summit offers an opportunity for a serious reconsideration of the relationship between the world’s two most powerful countries.

29 Jun 2014
1 May 2014

The return of the renminbi rant

China’s currency, the renminbi, has been weakening in recent months, resurrecting familiar charges of manipulation, competitive devaluation, and beggar-thy-neighbour mercantilism. In mid-April, the US Treasury expressed “particularly serious concerns” over this development, underscoring what has long been one of the most contentious economic-policy issues between the United States and China.

1 May 2014
28 Oct 2013

China gets a wake-up call from US

Yes, the United States dodged another bullet with a last-minute deal on the debt ceiling. But, with 90 days left to bridge the ideological and partisan divide before another crisis erupts, the fuse on America's debt bomb is getting shorter and shorter.

28 Oct 2013
31 Aug 2012

Concerns about a China hard landing way overblown

Concern is growing that China's economy could be headed for a hard landing. The Chinese stock market has fallen 20% over the past year, to levels last seen in 2009. Continued softness in recent data _ from purchasing managers' sentiment and industrial output to retail sales and exports _ has heightened the anxiety. Long the global economy's most powerful engine, China, many now fear, is running out of fuel.

31 Aug 2012 1
17 Jul 2012

The great American growth mirage

In September 1998, during the depths of the Asian financial crisis, Alan Greenspan, the US Federal Reserve's chairman at the time, had a simple message: The US is not an oasis of prosperity in an otherwise struggling world. Mr Greenspan's point is even closer to the mark today than it was back then.

17 Jul 2012
1 Jun 2012

China's EU focus exposes rest of Asia

Asian authorities were understandably smug after the financial crisis of 2008-2009. Growth in the region slowed sharply, as might be expected of export-led economies confronted with the sharpest collapse in global trade since the 1930s. But, with the notable exception of Japan, which suffered its deepest recession of the modern era, Asia came through an extraordinarily tough period in excellent shape.

1 Jun 2012
10 Apr 2012

Stability is paramount for Beijing

The first principle that I learned when I started focusing on China in the late 1990s is that nothing is more important to the Chinese than stability _ whether economic, social, or political.

10 Apr 2012
31 Jan 2012

Screwing tight the bolts of connectivity

Long the most fragmented nation on earth, China is being brought together like never before by a new connectivity.

31 Jan 2012