Review
"Stephen Roach combines scholarly expertise and long practical experience in this thought-provoking critique of economic policy. His insights and arguments will influence the debate on both sides of the Pacific."—Henry A. Kissinger
(Henry Kissinger)
"An important and fascinating book about the structural changes and evolving codependency of the world’s two largest and most dynamic economies. Unbalancedis an education in growth, stability and postwar globalization, full of deep insights and colorful personalities on both sides, and wonderfully well written. Very few people have the breadth of knowledge and experience to write such a book."—A. Michael Spence, Nobel Laureate in Economics
(A. Michael Spence)
"How the US and China will transit from precarious codependency to stable coexistence is one of the most crucial questions for the 21st century. Stephen Roach, with his profound grasp of the economic and political systems in the US and China, describes the challenges, opportunities and necessary adjustments for both countries. This is a timely must-read book for anyone concerned about the future of the world."—Justin Yifu Lin, Former Chief Economist, the World Bank
(Justin Yifu Lin)
"Unbalanced is a compelling analysis of China's transition to a new model of economic growth and the challenges this transition will create for the United States."—Nicholas Lardy, Anthony M. Solomon Senior Fellow, Peterson Institute for International Economics
(Nicholas Lardy)
"Stephen Roach provides an insightful and critical account of the economic relationship between China and America. His policy warning is clear: the future of US-China relations depends on significant changes in the growth strategies of both countries."—Laura D. Tyson, University of California, Berkeley
(Laura Tyson)
“[An] eye-opening look at a condition that wanders from the boardroom to the psychiatrist’s couch: financial codependency, which enables the worst qualities of two powerful economies. . . .Full of implication, well written and of much interest.”—Kirkus Reviews
(
Kirkus Reviews)
"Lucid and accessible, immensely informative and insightful . . . . one of the most important books on the relationship between the United States and China to be published in at least a decade."—Huffington Post
(
Huffington Post)
"An evenhanded, thorough response to the anti-China potshots from Democrats and Republicans alike. . . . The root problem, Roach says repeatedly, is America’s inability to save enough at home to finance its growth — a situation that is hardly China’s fault. And a day of reckoning is coming [for the United States and China]. . . . ‘The endgame provides enormous opportunity for each, ‘he writes. ‘The challenge is for both to see it.’ "—Fred Andrews, New York Times
(Fred Andrews
New York Times)
About the Author
Stephen Roach is senior fellow, Jackson Institute for Global Affairs and School of Management, Yale University. Prior to that he was Chairman of Morgan Stanley Asia, and for the bulk of his career on Wall Street was Chief Economist of Morgan Stanley. Prior to joining Morgan Stanley in 1982, Mr. Roach served on the research staff of the Federal Reserve Board and was also a research fellow at the Brookings Institution. He holds a Ph.D. in economics from New York University. Roach has written extensively for the international media and appears regularly on television around the world. He lives in New Canaan, CT.