Stephen Roach-Morgan Stanley
Stephen Roach's just-published book The Next Asia (John Wiley & Sons, publication date September 29, 2009) is a timely assessment of the region's potential to provide a new source of growth for a post-crisis global economy. Roach points out that many have presumed that the baton of economic leadership has already passed from the West to the East, heralding the onset of the Asian Century. If it were only that easy! The current Asia remains very much an export machine, with auxiliary fuel provided by capital investment. It's a supply-oriented growth model that leaves Asia heavily dependent on external demand from others. Roach argues that the region can lead ' if and only if it becomes better balanced, drawing increased support from internal private consumption. Notwithstanding the tensions of the globalization debate and the risks of U.S.-China trade frictions, The Next Asia makes the case for this daunting transition. Join us in an intimate evening of discussion with the author on his views and predictions for Asia followed by a book launch reception and exclusive book signing.