As Morgan Stanley's chief Asia specialist, getting Asia right is Stephen Roach's personal obsession, and this in-depth compilation represents more than 70 of Roach's key research efforts not just on Asia, but also on how the region fits into the broad context of increasingly globalized financial markets. The book argues that the "Asia factor" is not a static concept, but rather one that is constantly changing and evolving. Broken down into five parts–Asia's critical role in globalization; the coming rebalancing of the Chinese economy; a new pan-regional framework for integration and competition; and a frank discussion of the biggest risk to this remarkable transformation–this book will help readers understand and profit from the world's most dynamic region.

STEPHEN S. ROACH has been a thought leader on Wall Street for over thirty years. He is currently a member of the faculty of Yale University and Non-Executive Chairman of Morgan Stanley Asia. For the bulk of his career, he served as Morgan Stanley's chief economist, heading up a highly regarded team of economists around the world. His recent research on globalization, the emergence of China and India, trade policy, and the capital market implications of global imbalances has appeared widely in the international media and in testimony before the U.S. Congress. Prior to joining Morgan Stanley in 1982, he worked in senior capacities at Morgan Guaranty Trust Company and the Federal Reserve Board in Washington D.C. He holds a PhD in economics from New York University and was a research fellow at the Brookings Institution. He is currently recovering from chronic jet lag syndrome after having logged 1.2 million air miles during his recent three-year stint as Hong Kong–based Chairman of Morgan Stanley Asia.