Stephen Roach is a Senior Fellow at Yale University's Jackson Institute for Global Affairs. He was formerly Chairman of Morgan Stanley Asia and the firm's Chief Economist. Mr. Roach's current teaching and research program focuses on the impacts of Asia on the broader global economy. At Yale, he has introduced new courses for undergraduates and graduate students on the "The Next China" and "The Lessons of Japan." His latest book, Unbalanced: The Codependency of America and China (Yale University Press, Jan. 2014) examines the risks and opportunities of the world's most important economic relationship of the 21st century. Prior to joining Morgan Stanley in 1982, Mr. Roach served on the research staff of the Federal Reserve Board and was also a research fellow at the Brookings Institution.