Asia Centric by Bloomberg Intelligence

AI has been hailed as a transformative technology with McKinsey estimating it could add $26 trillion to the global economy. While many investors have already jumped on the AI bandwagon, not everyone agrees. Daron Acemoglu, Institute Professor at MIT and author of books including Why Nations Fail, takes a critical look at AI and explains why the economic and social benefits may have been overstated. He joins John Lee of Bloomberg Intelligence and Katia Dmitrieva of Bloomberg News on the Asia Centric podcast.See omnystudio.com/listener for privacy information.

Shareholder activism is gaining traction in Japan, with the number of new campaigns surging by 70% in the first half of 2024. At the same time, homegrown activist funds are becoming more prominent in Japan’s corporate circles. Shuhei Furukawa, managing director and portfolio manager at Misaki Capital, and James Han, managing partner at Prodigies Group, join John Lee of Bloomberg Intelligence to discuss this growing trend and how it differs to what’s happening in the US.See omnystudio.com/listener for privacy information.

Miguel Chanco, Chief Emerging Asia Economist at Pantheon Macroeconomics, shares a critical perspective on India's celebrated economic growth. He discusses alarming discrepancies in growth figures and the impact of reduced government spending and manufacturing slowdowns. Chanco highlights the challenges in accurately measuring post-COVID growth and contrasts India's narrative with China's, stressing potential vulnerabilities in key sectors. The conversation also touches on the Reserve Bank of India's policy responses amid these economic pressures.

Hong Kong's wealth management is booming as rich mainland Chinese investors pour in funds. The city’s offshore wealth-under-management industry now amounts to more than $2.2 trillion, the second largest in the world, and is approaching Switzerland's level. What's driving these rich Chinese to invest overseas, and how will China's economic slump impact future flows? Lemuel Lee, Head of Wealth Management Hong Kong at BNP Paribas, and Sharnie Wong, Senior Financials Analyst at Bloomberg Intelligence, discuss these issues with host John Lee on the Asia Centric podcast.See omnystudio.com/listener for privacy information.

A rate hike from the Bank of Japan combined with weak US economic data coalesced to cause the biggest one-day sell off in stocks since 1987. What does this mean for monetary policy in Japan and the US? And how could investors position themselves for the uncertainty ahead? Gareth Nicholson, Chief Investment Officer and Head of Managed Investments at Nomura International Wealth Management, joins co-hosts John Lee and Katia Dmitrieva on the Asia Centric podcast. See omnystudio.com/listener for privacy information.

Uranium prices have skyrocketed as demand surges for nuclear power globally and traders fret about a potential shortage. China is Asia’s biggest user of nuclear energy, while countries such as Australia are still debating whether to embrace it. Investors have been piling into mining companies and uranium ETFs, but is this the best way to capitalize on the demand? And what are the risks to the seemingly bright outlook? Asia Centric hosts John Lee and Katia Dmitrieva discuss these issues with Mohsen Crofts, senior metals and mining analyst at Bloomberg Intelligence, and Leonard Quong, head of Australia research at BloombergNEF.See omnystudio.com/listener for privacy information.

We're about halfway through the year and China's economy is still struggling to regain momentum after the housing bubble burst and consumers pulled back. A major policy meeting in China that wrapped last week did little to assuage concerns, with officials focused more on the long term. The US presidential election could have big implications for trade and tariffs.   Andrew Tilton, chief economist for the APAC region at Goldman Sachs, joins host Katia Dmitrieva for a check-in on the world's second-largest economy.See omnystudio.com/listener for privacy information.

Taro Kimura, a former Bank of Japan veteran and Senior Japan Economist, joins Takeshi Kitaura, a Senior Industrials Analyst at Bloomberg Intelligence. They discuss Japan's recent economic transformations, including inflation's effects on investments and corporate governance reforms. The conversation highlights the implications of rising wages and interest rates, the role of technology and defense spending, and the importance of women in leadership. They also tackle challenges Japan faces as it attempts to sustain its economic revival.

China is building closer economic ties with the Gulf countries, with Saudi Arabian companies announcing deals to acquire stakes in Chinese firms including Lenovo and Hengli Petrochemical, while China is promising to build factories in the region. So how will this create investment opportunities? Can China help transform Saudi Arabia’s economy through its ambitious 2030 vision? And how will US-China tension impact the relationship? Ziad Daoud, Chief Emerging Markets Economist at Bloomberg Economics, and Edmond Christou, Senior Financials Analyst at Bloomberg Intelligence, join host John Lee on the Asia Centric podcast.See omnystudio.com/listener for privacy information.

Gary Ng, senior economist at Natixis Corporate and Investment Banking, discusses Hong Kong's economic challenges, including property price slumps, retail sector competition, and the city's path to recovery. The podcast explores changing patterns in luxury spending, analysis of the real estate sector, decision-making factors for executive relocation, and the need for economic transformation beyond finance.