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The Asian Century?

China without hysteria

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Stephen Roach on China

Stephen Roach, former economist for Morgan Stanley, now non-executive Chairman of Morgan Stanley Asia.

If China is important - and it is - it makes sense to look at the situation clearly without slogans and preconceptions.

Take away: China is by no means guaranteed endless growth. In fact, its period of rapid growth may be over.

China is entirely dependent on exports and when all is said and done, it does not do a good job of creating jobs. What are they going to do when the reality of long term decline of demand from the US kicks in?