Stephen Roach: Wall Street's optimism surrounding a US-China trade deal is overdone

Morgan Stanley Asia former chairman Stephen Roach predicts Washington and Beijing will sign a "phase one" deal - but there will be no "phase two."

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.