CNBC, Released on 3/30/20
“This is not your garden variety business cycle where a sharp downturn is followed by an equally sharp snapback. We can restart production, but can we really restart consumption with people still scared and unwilling to go out and socialize and spend? So, I think the recovery is going to be extremely tentative.”
Stephen S. Roach, former Chairman of Morgan Stanley Asia and the firm’s chief economist, is a senior fellow at Yale University’s Jackson Institute of Global Affairs and a senior lecturer at Yale’s School of Management. He the author, most recently, of Unbalanced: The Codependency of America and China and Stephen Roach on the Next Asia: Opportunities and Challenges for a New Globalization.