Steven Roach former Chief Economist of Morgan Stanley believes the relationship between China and America is at a critical turning point

Steven Roach former Chief Economist of Morgan Stanley believes the relationship between China and America is at a critical turning point. He spoke with Philip Baker from the AFR saying that how this relationship unfolds will be the decisive factor in shaping the global economy and financial markets over the next decade. I'm nervous about the relationship for one reason, China's changing, America is not. In a personal relationship, when one partner in a co-dependant relationship goes its own ways, it's usually nasty for the one who's scorned and left behind. Roach says that concerns about the shadow banking industry have been overplayed as have headlines around the slowing growth in China. China is going through a critical, once-in-a-20-year transition to a different model of economic growth that will eventually be more balanced and more stable and more sustainable, but most importantly, a more slower-growth model. (VIEW LINK)


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