Latest Stephen Roach News & Updates

China’s Retail Sales Decline for the First Time in Three and a Half Years

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New Delhi, June 29 (IANS) China’s retail sales fell 0.6 per cent year‑on‑year in May 2026 after a weak April, marking the first monthly decline in three and a half years, Stephen Roach, former Chief Economist and Asia Chair, Morgan Stanley, wrote on his Substack account, arguing that the country’s prolonged effort to steer toward consumer‑led growth has failed.Roach said that the failed growth model led to Chinese state, state‑owned enterprises and private firms capturing a disproporti…