Roach: This Time, Stagflation is Different

Wednesday, June 18, 2008 3:15 PM

Today's stagflation, sharply rising inflation in a time of slow growth, differs from that experienced in the U.S. more than 30 years ago, says Morgan Stanley Asia CEO Stephen Roach.

Like everything we buy these days, this stagflation comes from Asia and is driven by globalization — as well as by an Asian inflation rate that's rapidly lurching out of control.

“The world remains largely in denial over the outbreak of a new strain of stagflation,â€