East needs West

Asian economic growth is resilient enough to withstand further deterioration in the West, according to our web poll last week.

Morgan Stanley's outgoing chief economist, Stephen Roach, sums up his 25-year journey by offering three macro milestones which he says stood out over the period.

The chief executive recruits the likes of Morgan Stanley's Stephen Roach and Standard Chartered's Mervyn Davies to the task force.

Renowned economist and chairman of Morgan Stanley Asia, Stephen Roach, says a prolonged economic downturn in the US could lead to protectionist trade policies.

Two bookends delineate the current macro debate -- the Asian financial crisis of 1997-98 and the US subprime crisis of 2008-09. China was remarkably adept at avoiding both of these conflagrations. Will it be so lucky next time?

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.