Roach: Don’t view China through the western lens

Stephen S. Roach, the former Chief Economist of Morgan Stanley says the Western World’s view of China “has darkened out of fear of asset bubbles, excess investment, and debt overhangs—precisely the same imbalances that have afflicted the major economies of the developed world over the past two decades.” However “the truth is far less bleak." Roach says "While China has many of the symptoms that have and are still afflicting more prosperous economies in the West, it is at a very different state in its development journey. The lens through which we see ourselves overstates China’s downside risks and misses the strategic building blocks of its nascent structural transformation. While hardly problem-free, the Chinese economy continues to offer a growth potential unmatched by any other nation in the world today.” Roach offers up three major themes that are driving continued positivity in China - full article here: (VIEW LINK)