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 Roach's prescient collection of insights and analyses, from his many years in Asia as one of the most experienced decoders of China's political and economic trends, are cogent, valuable, and immensely helpful." —HENRY A. KISSINGER PRAISE FOR STEPHEN ROACH ON THE NEXT ASIA "Stephen Roach's penetrating insights into the linkages between Asia and globalization—past, present, and future—should be required reading for policymakers, economists, and anyone else who has an interest in the future of the world economy." —JEFFREY E. GARTEN, Professor and former dean, Yale School of Management, and former Undersecretary of Commerce for International Trade, Clinton administration "If policymakers from the United States and China heed [Roach's] words, the world will be a safer, more prosperous place." —BILL BRADLEY, former United States Senator "This book presents a fresh Asian perspective in understanding the root cause of the global financial crisis." —LIU MINGKANG, Chairman, China Banking Regulatory Commission "Stephen Roach's articles on Asia give the reader an authoritative and highly readable overview of the many fascinating aspects of Asia's new emergence on the global scene." —MONTEK AHLUWALIA, Deputy Chairman, Planning Commission, Government of India "Debate rages over whether Asia has become the new engine of growth in a post-crisis global economy. Stephen Roach challenges this presumption and provides timely insight as to what China and the rest of Asia need to accomplish in order to step into this important role." —LAURA D'ANDREA TYSON, Professor, Haas School of Business, UC Berkeley, and former chair, White House National Economic Council, Clinton administration "Roach has enjoyed a ringside seat in Asia through the crisis. The combination of economic and business analysis gives him a unique perspective." —HOWARD DAVIES, Director, London School of Economics, and former executive chairman, UK Financial Services Authority "Stephen Roach's prescient collection of insights and analyses, from his many years in Asia as one of the most experienced decoders of China's political and economic trends, are cogent, valuable, and immensely helpful." HENRY A. KISSINGER PRAISE FOR STEPHEN ROACH ON THE NEXT ASIA "Stephen Roach's penetrating insights into the linkages between Asia and globalization past, present, and future should be required reading for policymakers, economists, and anyone else who has an interest in the future of the world economy." JEFFREY E. GARTEN, Professor and former dean, Yale School of Management, and former Undersecretary of Commerce for International Trade, Clinton administration "If policymakers from the United States and China heed [Roach's] words, the world will be a safer, more prosperous place." BILL BRADLEY, former United States Senator "This book presents a fresh Asian perspective in understanding the root cause of the global financial crisis." LIU MINGKANG, Chairman, China Banking Regulatory Commission "Stephen Roach's articles on Asia give the reader an authoritative and highly readable overview of the many fascinating aspects of Asia's new emergence on the global scene." MONTEK AHLUWALIA, Deputy Chairman, Planning Commission, Government of India "Debate rages over whether Asia has become the new engine of growth in a post-crisis global economy. Stephen Roach challenges this presumption and provides timely insight as to what China and the rest of Asia need to accomplish in order to step into this important role." LAURA D'ANDREA TYSON, Professor, Haas School of Business, UC Berkeley, and former chair, White House National Economic Council, Clinton administration "Roach has enjoyed a ringside seat in Asia through the crisis. The combination of economic and business analysis gives him a unique perspective." HOWARD DAVIES, Director, London School of Economics, and former executive chairman, UK Financial Services Authority 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