Stephen Roach, Morgan Stanley’s Asia chairman, discusses with Demetri Sevastopulo, the FT’s Asia news editor in Hong Kong, whether consumption from China, India and the other Bric countries can ever substitute the US consumer.
He also argues that the centre of gravity in the global economy will never shift to the Brics unless they rebalance their economies toward growth driven by domestic demand.
Source: Demetri Sevastopulo, Financial Times, January 21, 2010.
