Accessibility helpSkip to navigationSkip to contentSkip to footer
  • Sign In
  • Subscribe
Open side navigation menuOpen search bar
Financial Times
SubscribeSign In
  • Home
  • World
    Sections
    • World Home
    • Middle East war
    • Global Economy
    • UK
    • US
    • China
    • Africa
    • Asia Pacific
    • Emerging Markets
    • Europe
    • War in Ukraine
    • Americas
    • Middle East & North Africa
    Most Read
    • Iran warns of potential change in nuclear doctrine if Israel targets facilities
    • Florida surveys wreckage left by Hurricane Milton
    • US inflation fell to 2.4% in September
    • UK executives dump shares on fears of Labour capital gains tax raid
    • Why Kamala Harris chose to appear on the ‘Call Her Daddy’ podcast
  • UK
    Sections
    • UK Home
    • UK Economy
    • UK Politics
    • UK Companies
    • Personal Finance
    Most Read
    • UK executives dump shares on fears of Labour capital gains tax raid
    • Reeves weighs capital gains tax hike to help plug UK’s Budget gap
    • The battle of Labour’s three brains
    • Why are a rising number of young Britons out of work?
    • Ex-Darktrace head Poppy Gustafsson named UK investment minister
  • Companies
    Sections
    • Companies Home
    • Energy
    • Financials
    • Health
    • Industrials
    • Media
    • Professional Services
    • Retail & Consumer
    • Tech Sector
    • Telecoms
    • Transport
    Most Read
    • Starboard plotted a campaign against Pfizer’s chief. Then a blank email dropped in his inbox
    • Private equity groups’ assets struggling under hefty debt loads, Moody’s says
    • Stellantis unveils management shake-up at global car brands
    • The ‘80-hour circuit breaker’: Wall Street banks tackle workloads of junior staff
    • Why Kamala Harris chose to appear on the ‘Call Her Daddy’ podcast
  • Tech
    Sections
    • Tech Home
    • Artificial intelligence
    • Semiconductors
    • Cyber Security
    • Social Media
    Most Read
    • AMD rolls out new AI chip to rival Nvidia
    • Checking out of Hotel California
    • Why Big Tech makes such a poor babysitter
    • How Google plans to deflect and delay a historic break-up threat
    • Breaking up Google would be misguided
  • Markets
    Sections
    • Markets Home
    • Alphaville
    • Markets Data
    • Crypto
    • Capital Markets
    • Commodities
    • Currencies
    • Equities
    • Wealth Management
    • Moral Money
    • ETF Hub
    • Fund Management
    • Trading
    Most Read
    • How Russia’s ‘shadow fleet’ gets its ships
    • Warren criticises accounting watchdog over BDO audit failures
    • TD Bank to pay $3bn in US case over money laundering lapses
    • China’s real intent behind its stimulus inflection
    • Former UBS chief Ralph Hamers joins AI wealth management start-up
  • Climate
  • Opinion
    Sections
    • Opinion Home
    • Columnists
    • The FT View
    • The Big Read
    • Lex
    • Obituaries
    • Letters
    Most Read
    • Why Kamala Harris chose to appear on the ‘Call Her Daddy’ podcast
    • China’s real intent behind its stimulus inflection
    • No one but Moscow gains from Polish-Ukrainian tensions
    • How anime took over the world
    • The battle of Labour’s three brains
  • Lex
  • Work & Careers
    Sections
    • Work & Careers Home
    • Business School Rankings
    • Business Education
    • Europe's Start-Up Hubs
    • Entrepreneurship
    • Recruitment
    • Business Books
    • Business Travel
    • Working It
    Most Read
    • The ‘80-hour circuit breaker’: Wall Street banks tackle workloads of junior staff
    • Trump pledges to end double taxation for expat Americans
    • Herman Chinery-Hesse, tech entrepreneur, 1963-2024
    • Labour must keep listening to business
    • A chef’s guide to London’s top Sunday lunches
  • Life & Arts
    Sections
    • Life & Arts Home
    • Arts
    • Books
    • Food & Drink
    • FT Magazine
    • House & Home
    • Style
    • Travel
    • FT Globetrotter
    Most Read
    • South Korean author Han Kang wins Nobel literature prize
    • How anime took over the world
    • The Ritz, London: Is this where I fall back in love with fine dining? — review 
    • Introducing Ventete, the world’s first inflatable bike helmet
    • Peter Schlesinger: ‘It was drug-ridden back then — but a wonderful place’
  • HTSI
MenuSearch
  • Home
  • World
  • UK
  • Companies
  • Tech
  • Markets
  • Climate
  • Opinion
  • Lex
  • Work & Careers
  • Life & Arts
  • HTSI
Financial Times
SubscribeSign In

Stephen Roach

  • Monday, 30 September, 2024
    Markets InsightChinese economy
    Why China needs a ‘Three Arrows’ strategy

    Beijing should err on the side of acceptance rather than denial and make major efforts to avoid the mistakes of Japan

    China’s President Xi Jinping walks to the podium during a reception on the eve of National Day at the Great Hall of the People in Beijing.
  • Monday, 12 February, 2024
    Markets InsightHong Kong
    It pains me to say Hong Kong is over

    The stock market is likely to remain in the mire until we see convincing economic measures from Beijing

    The city’s skyline at dusk in Hong Kong
  • Monday, 21 August, 2023
    Markets InsightGlobal Economy
    China’s ‘whack-a-mole’ economic playbook leads to confusion

    Policymakers are flailing in tackling the problems of its weak blended economy

    Pedestrians pass stores in Guangzhou, China
  • Tuesday, 18 July, 2023
    US-China relations
    The old approach to US-China relations no longer works

    A new architecture of engagement, based on a Sino-American secretariat, is urgently needed

    Xi Jinping meets Joe Biden on the sidelines of the G20 summit in Bali last year
  • Thursday, 4 August, 2022
    US-China relations
    Two insecure superpowers stumble towards collision over Taiwan

    Just as Russia has cited Nato enlargement to justify its Ukraine invasion, China may see US support for Taipei as a tipping point

    Nancy Pelosi and Tsai Ing-wen wear face masks and stand side by side waving
  • Wednesday, 13 October, 2021
    Central banks
    The sequencing trap that risks stagflation 2.0

    Today’s generation of central bankers is afflicted with the same sense of denial that proved problematic in the 1970s

    Twilight picture of the Federal Reserve building in Washington DC. Central bank such as the Fed haven’t a clue about the links between their asset holdings and the forces of supply and demand that are currently wreaking havoc on inflation
  • Sunday, 6 December, 2020
    US-China trade dispute
    Three priorities for the US to de-escalate the China conflict

    Small steps will be needed to rebuild trust but there are gains to be made on trade and dialogue

    The US and China need improved access to each other’s markets in order to promote long-term growth
  • Monday, 5 October, 2020
    Global Economy
    The end of the dollar’s exorbitant privilege

    A crash is likely given the collapse in US domestic saving and a gaping current account deficit

  • Wednesday, 6 May, 2020
    Global Economy
    A return to 1970s stagflation is only a broken supply chain away

    The death of inflation has been exaggerated and after the pandemic we may need it

    Cars queuing at a petrol station on Woodford Avenue, London, during a petrol shortage, December 1973. (Photo by Evening Standard/Hulton Archive/Getty Images)
  • Tuesday, 7 March, 2017
    US trade
    Donald Trump is suffering from trade deficit disorder

    The temptation to punish China with tariffs is an example of a misguided approach

    Shipping containers sit stacked in a commercial yard at the Port of Everglades in Fort Lauderdale, Florida, U.S., on Friday, Jan. 29, 2016. The U.S. Census Bureau is scheduled to release international trade balance figures on February 5. Photographer: Ty Wright/Bloomberg
Previous page You are on page 1 Next page

Useful links

Support

View Site TipsHelp CentreContact UsAbout UsAccessibilitymyFT TourCareers

Legal & Privacy

Terms & ConditionsPrivacy PolicyCookie PolicyManage CookiesCopyrightSlavery Statement & Policies

Services

Share News Tips SecurelyIndividual SubscriptionsProfessional SubscriptionsRepublishingExecutive Job SearchAdvertise with the FTFollow the FT on XFT ChannelsFT Schools

Tools

PortfolioFT AppFT Digital EditionFT EditAlerts HubBusiness School RankingsSubscription ManagerNews feedNewslettersCurrency Converter

Community & Events

FT Live EventsFT ForumsBoard Director Programme

More from the FT Group

Markets data delayed by at least 15 minutes. © THE FINANCIAL TIMES LTD 2024. FT and ‘Financial Times’ are trademarks of The Financial Times Ltd.
The Financial Times and its journalism are subject to a self-regulation regime under the FT Editorial Code of Practice.
Edition:UK
International
Subscribe for full access

Top sections

  • Home
  • World
    • Middle East war
    • Global Economy
    • UK
    • US
    • China
    • Africa
    • Asia Pacific
    • Emerging Markets
    • Europe
    • War in Ukraine
    • Americas
    • Middle East & North Africa
  • UK
    • UK Economy
    • UK Politics
    • UK Companies
    • Personal Finance
  • Companies
    • Energy
    • Financials
    • Health
    • Industrials
    • Media
    • Professional Services
    • Retail & Consumer
    • Tech Sector
    • Telecoms
    • Transport
  • Tech
    • Artificial intelligence
    • Semiconductors
    • Cyber Security
    • Social Media
  • Markets
    • Alphaville
    • Markets Data
    • Crypto
    • Capital Markets
    • Commodities
    • Currencies
    • Equities
    • Wealth Management
    • Moral Money
    • ETF Hub
    • Fund Management
    • Trading
  • Climate
  • Opinion
    • Columnists
    • The FT View
    • The Big Read
    • Lex
    • Obituaries
    • Letters
  • Lex
  • Work & Careers
    • Business School Rankings
    • Business Education
    • Europe's Start-Up Hubs
    • Entrepreneurship
    • Recruitment
    • Business Books
    • Business Travel
    • Working It
  • Life & Arts
    • Arts
    • Books
    • Food & Drink
    • FT Magazine
    • House & Home
    • Style
    • Travel
    • FT Globetrotter
  • Personal Finance
    • Property & Mortgages
    • Investments
    • Pensions
    • Tax
    • Banking & Savings
    • Advice & Comment
    • Next Act
  • HTSI
  • Special Reports

FT recommends

  • Alphaville
  • FT Edit
  • Lunch with the FT
  • FT Globetrotter
  • #techAsia
  • Moral Money
  • Visual and data journalism
  • Newsletters
  • Video
  • Podcasts
  • News feed
  • FT Schools
  • FT Live Events
  • FT Forums
  • Board Director Programme
  • myFT
  • Portfolio
  • FT Digital Edition
  • Crossword
  • Our Apps
  • Help Centre
  • Subscribe
  • Sign In