US-China ties remain 'conflicted co-dependency,' economist warns

A leading economist said Thursday that the United States and China remain locked in a "conflicted co-dependency" that this year's two bilateral summits failed to resolve. "I think there's a good chance that we're in a temporarily more stable place. But to say that has solved the deep-rooted problems between us, I think is a real stretch," said Stephen Roach, a veteran China-watcher and former chairman of Morgan Stanley Asia, speaking at the China Institute of America. Roach acknowledged the two summits but said they did not address the underlying tensions between the world's two largest economies.