Stephen Roach, chief economist, Morgan Stanley, has been warning the world for years about the impending financial crisis. In his new book, Next Asia, he outlines the opportunities and the challenges for Asian countries
Is the world out of the recessionary woods as yet, especially the US?
No we are not out of the woods as yet. I see many dangers still ahead of us. I am not willing to “greenlight” the recovery. I don’t foresee any economic mega trend or technology trends that can create the consumer demand in the US. Lay-offs are still taking place and I haven’t seen any jumpstarts to the GDP.
(This story appears in the 06 November, 2009 issue of Forbes India. To visit our Archives, click here.)