Stephen Roach has been a member of the Yale faculty since 2010. After 13 years as the first senior fellow of Yale’s Jackson Institute of Global Affairs, he joined Yale Law School’s Paul Tsai China Center in 2022. He was formerly Chairman of Morgan Stanley Asia and the firm’s Chief Economist for the bulk of his 30-year career at Morgan Stanley.
A rare combination of thought leadership on Wall Street and academia places Roach in a unique position as a leading practitioner of analytical macroeconomics. At Yale, he introduced new courses for undergraduates and graduate students on “The Next China” and “The Lessons of Japan.” Roach’s current research program focuses on the conflict-prone U.S.-China relationship.
His latest book, Accidental Conflict: America, China, and the Clash of False Narratives (Yale University Press, 2022) examines the ominous trajectory of conflict escalation between the United States and China and a provides a unique roadmap for conflict resolution. His book Unbalanced: The Codependency of America and China (Yale University Press, 2014) explores the risks and opportunities of what is likely to be the world’s most important economic relationship of the 21st century. The Next Asia: Opportunities and Challenges for a New Globalization (Wiley, 2009) analyzes Asia’s economic imbalances and the dangers of the region’s excess dependence on overextended Western consumers.
Prior to joining Morgan Stanley in 1982, 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 is a member of the Council on Foreign Relations, the Investment Committee of the Metropolitan Museum of Art, the Economics Advisory Board of the University of Wisconsin, and the Advisory Board of NYU’s Graduate School of Arts and Sciences.
