Big Take Asia

In this insightful conversation with John Boudreau, Bloomberg's Vietnam bureau chief, listeners dive deep into the shocking tale of Truong My Lan. A Vietnamese real estate mogul, she orchestrated a staggering $12.3 billion fraud and now faces a death sentence. Boudreau reveals how she managed to embezzle vast sums amidst Vietnam's booming economy and the ripple effects on anti-corruption measures. The discussion also touches on the public's reaction to high-profile corruption trials and the implications for Vietnam's future.

Shawna Kwan, a Bloomberg reporter known for her coverage of the intricate dynamics of family businesses, dives into the unexpected leadership shake-up at New World Development. She discusses how Adrian Cheng, once a favored heir, was suddenly replaced by a non-family CEO, Eric Ma. The conversation unveils the challenges facing family dynasties in Asia as they navigate generational shifts and competitive markets. Kwan also highlights the potential ripple effects this dramatic shift could have on other property empires in Hong Kong.

In this discussion, Bloomberg journalist Daniel Ten Kate and Professor Li Cheng from the University of Hong Kong dive into Tim Walz's deep connections with China, tracing his journey from teacher to political figure. They explore how his personal experiences, including his honeymoon in China, could influence U.S.-China relations. The duo debates whether these ties may serve as an asset or a liability for the Democrats. Additionally, they consider the balance between real estate investments and human rights advocacy amidst rising tensions.

Saleha Mohsin, a Bloomberg journalist with expertise in global economics, delves into the shifting dynamics of currency dominance, particularly the challenges facing the US dollar. She discusses the rising wave of de-dollarization fueled by sanctions, and how BRICS nations are pushing for alternatives. The conversation touches on the potential impact of tariffs proposed by Donald Trump and examines whether the Chinese Yuan can realistically dethrone the dollar, highlighting the importance of democratic values and transparency in this transition.

Lulu Chen, a Bloomberg journalist specializing in economic trends, discusses the profound impact of Xi Jinping’s policies on China’s workforce. She highlights how millions face job losses and pay cuts, leading to widespread anxiety among the country's skilled professionals. The pressure permeates mental health, fueling a rise in anxiety and depression. Chen also examines the challenges of reskilling amidst age discrimination and the public's frustration over increasing retirement ages—a cocktail of socio-economic turmoil stirring unrest among China’s younger generation.

Faris Mokhtar from Bloomberg, an expert on Southeast Asian economies, dives into Indonesia's ambitious yet troubled capital project, Nusantara. He highlights Jakarta's unbearable overcrowding and pollution as the driving force behind the move. However, the project faces daunting challenges, including reluctance from civil servants and dwindling foreign investments. Mokhtar discusses the dire need for adequate funding and the potential consequences for Indonesia's economy if the plan falters. The future remains uncertain as skepticism grows.

They caused global markets to seize up – and raised serious questions about just how much money was at stake. No, we’re not talking about Nvidia’s earnings. Or the US jobs report. We’re talking about carry trades – an obscure part of international markets that’s suddenly less obscure. On today’s Big Take Asia podcast, the Bloomberg Explains series continues with Bloomberg Opinion columnist Shuli Ren. She tells hosts K. Oanh Ha and David Gura about how the yen carry trade became so popular with big banks to small-time investors, what went wrong during the August markets rout and how soup dumplings are key to understanding why carry trades shouldn’t work … but do. Read more: How Big Is the Yen Carry Trade, Really?Further listening: Odd Lots Podcast - BloombergWatch, from Bloomberg Originals: Why Japan’s Yen is So VolatileSee omnystudio.com/listener for privacy information.

Saritha Rai, a Bloomberg journalist with extensive knowledge of Southeast Asia, explores the seismic shift in the call center industry, particularly in the Philippines, as AI gains traction. She discusses how tools like the Sanas AI app are improving efficiency while also raising concerns about job security. Rai delves into the experiences of workers facing uncertainty and the implications for the economy. The conversation highlights the need for governments to address the challenges associated with AI-induced job displacement and the future of work.

Matt Campbell, an editor at Bloomberg Businessweek, delves into the sinister rise of the Golden Triangle Special Economic Zone in Laos. He discusses how a seemingly innocent economic initiative attracted gamblers, drug runners, and human traffickers. Campbell shares harrowing stories of human trafficking and the brutal conditions workers endure in scam centers. He also explores ongoing efforts to transform the area from a criminal haven into a tourist-friendly destination, highlighting the complexities of governance and crime in this notorious region.

Sheikh Hasina, former Prime Minister of Bangladesh for over 15 years, discusses her dramatic ousting following violent student-led protests. She reflects on the country's struggles to recover from unrest and violence. Nobel Prize-winning economist Muhammad Yunus enters the fray as the new leader, addressing the profound economic challenges facing the nation, particularly in the garment sector. The conversation highlights the tension between Yunus's reluctance to engage in politics and the urgent demands of his new role amid fears for Bangladesh's stability and future.