US-China trade deficit is set to keep on rising, Yale's Stephen Roach says
Economist Stephen Roach said America's trade deficits "are going to get bigger in the years ahead."
The U.S. trade imbalance issue is fundamentally tied to the nation's savings problem, he told CNBC at the annual China Development Forum.
"When you don't save and you want to spend and grow, you import surplus savings from abroad and you run these massive balance of payments and trade deficits to attract the foreign capital," he explained.