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Stephen S. Roach

Stephen S. Roach

Writing for PS since 2011
173 commentaries
1 videos & podcasts

Stephen S. Roach, a faculty member at Yale University and former chairman of Morgan Stanley Asia, is the author of Unbalanced: The Codependency of America and China (Yale University Press, 2014) and Accidental Conflict: America, China, and the Clash of False Narratives (Yale University Press, 2022).

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  1. Trump’s Trade Scam
    roach174_Christopher FurlongGetty Images_trump Christopher Furlong/Getty Images

    Trump’s Trade Scam

    Jan 24, 2025 Stephen S. Roach points out that the new “External Revenue Service” would target domestic importers, not foreign producers.

  2. China’s Struggles with a Consumer Society
    roach173_CFOTOFuture Publishing via Getty Images_chinashopping C FOTO/Future Publishing via Getty Images

    China’s Struggles with a Consumer Society

    Dec 19, 2024 Stephen S. Roach wonders whether the country’s political system is at odds with the values underpinning affluent societies.

  3. Asia in Denial
    roach172_Anthony KwanGetty Images_asia economy Anthony Kwan/Getty Images

    Asia in Denial

    Nov 26, 2024 Stephen S. Roach warns of misguided optimism about the state of China’s economy and Donald Trump’s tariff agenda.

  4. Sinophobia and US Election Lies
    roach171_David McNewStringerGettyImages_antichina_trump_supporter David McNew/Stringer/Getty Images

    Sinophobia and US Election Lies

    Oct 28, 2024 Stephen S. Roach laments that facts – especially about China – are in short supply as the presidential race tightens.

  5. China Is Missing in America’s Election Debate
    op_nathan1_ GREG BAKERAFP via Getty Images_china uighur Greg Baker/AFP via Getty Images

    China Is Missing in America’s Election Debate

    Sep 25, 2024 Stephen S. Roach laments the US presidential candidates’ unwillingness to discuss constructive solutions to tough problems.

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  1. laidi34_Maja HitijGettyImages_scholz_frederiksen Maja Hitij/Getty Images

    Europe Can and Must Resist Trump

    Zaki Laïdi explains how the European Union should respond to American imperial nationalism.
  2. bouverot1_JOEL SAGETAFP via Getty Images_aiactionsummit Joel Saget/AFP via Getty Images

    Bending the Arc of AI Development Toward Shared Progress

    Anne Bouverot outlines the French government's objectives for the AI Action Summit in Paris.
  3. hampton2_Luis TatoGettyImages_somalia_debt_crisis Luis Tato/Getty Images

    Developing Countries Need a New Approach to Long-Term Financing

    Hannah Wanjie Ryder & Kate Hampton propose reforms that would facilitate low-interest lending to fund critical climate and development goals.
  4. delong267_Chip SomodevillaGetty Images_whitehousepress Chip Somodevilla/Getty Images

    Trump’s Smoke and Mirrors

    J. Bradford DeLong upbraids US journalists for refusing to distinguish bluster from genuine policy initiatives.
  5. bp deepseek Photo illustration by Anthony Kwan/Getty Images

    Why Does DeepSeek Matter?

    Chinese tech startup DeepSeek’s release of a high-performance, low-cost artificial-intelligence platform has roiled financial markets and raised fundamental questions about the business models of American AI giants. Will the technology turn out to be a boon for competition in a critical industry, or should it be viewed as a geopolitical shot across the West’s bow?

  6. mazzucato79_Artur WidakNurPhotoGettyImages_amazon_web_services Artur Widak/NurPhoto/Getty Images

    Resisting Digital Feudalism

    Mariana Mazzucato calls for urgent action to shape the development of AI before it becomes another means of rent extraction.
  7. op_shafik2_ANDREW CABALLERO-REYNOLDSAFP via Getty Images_trumpvance Andrew Caballero-Reynolds/AFP via Getty Images

    World Order in a Time of Monsters

    Minouche Shafik

    A stable and cooperative global order cannot be built without first repairing broken national social contracts. While unequal and anxious countries become fertile ground for nationalism and selfishness, prosperous economies are more likely to foster generosity and support for international cooperation.

    highlights the critical importance of reinvigorating social contracts at the national level.
  8. rodrik231_Andrej IvanovGettyImages_us_canda_border Andrej Ivanov/Getty Images

    How Not to Respond to Trump’s Tariffs

    Dani Rodrik advises America’s trade partners not to embrace retaliation, because that would harm mainly themselves.
  9. landau5_Thierry MonasseGettyImages_eu_competitiveness_compass Thierry Monasse/Getty Images

    Europe Found Its Values and Lost Its Way

    Jean-Pierre Landau warns that the EU’s focus on high-level principles is undermining its economic dynamism and global influence.

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