Monday, February 11, 2008

Roach's Canaries in Beijing

Subprime: Canary in a Coal Mine?
January 31, 2008

Stephen Roach

"Morgan Stanley's Stephen Roach and Mary Meeker both recently presented at the Caijing Magazine Annual Conference in Beijing.

The conference - a leading forum on the Chinese economy - addressed the major challenges and opportunities for China in 2008.

Roach kicked off his remarks by providing a comparision between the dotcom bubble burst of 1999 and the recent subprime mortgage crisis; he then focused on trends in global consumerism and the myth of Asia decoupling. He explored the challenges facing a growing China, as well as the increase in protectionism and currency risks that are playing out with Asia economic expansion."

right click to download - a very insightful set of charts.

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