'The dollar is going to fall very, very sharply,' Stephen Roach warns

Fmr. Morgan Stanley Asia chairman Stephen Roach sees a historical shift unfolding as the nation's budget deficit grows.

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.