Beijing must drop its administrative approach to fiscal tightening and use traditional tools to fight inflation, states Morgan Stanley's non-executive Asia chairman Stephen Roach.
Last night in Hong Kong, Charles Evans of the Federal Reserve and colleagues from the Bank of England and Bank of Japan discussed the challenges central bankers face as pressure builds for them to preempt the next financial crisis.
Morgan Stanley Asia chairman Stephen Roach argues that the only way to put Asian growth models on a sustainable footing is to introduce social safety nets.
A slowdown in US consumption and Chinese output will lead to a setback. Protectionist measures from the US are seen as the biggest risk to global markets, says Roach.