Big Take Asia

Daniel Ten Kate, Bloomberg’s executive editor for Asia economy and government, shares his expertise on the potential impact of a second Trump term on the Asian landscape. He discusses rising tariffs and geopolitical tensions, particularly concerning China and Taiwan. The conversation also highlights the shifting dynamics in U.S.-India relations and the critical role of Southeast Asian nations in trade. With uncertainties looming, Ten Kate emphasizes the challenges that countries face in a fractured global environment.

Faseeh Mangi, Bloomberg’s Pakistan Bureau Chief, shares deep insights into Pakistan’s economic crisis, particularly the alarming exodus of skilled professionals. Asad Ijaz Bhatt, who returned to the U.S. after attempting to serve in Pakistan’s government, recounts his personal struggles amid rising living costs. They discuss the staggering rise in expenses impacting the middle class, the reasons behind the brain drain, and the long-term ramifications for Pakistan’s already fragile economy. The conversation underscores a nation at a critical juncture.

Rebecca Choong Wilkins, Bloomberg’s Asia government and politics correspondent, dives into the intense tech rivalry between the US and China. She discusses how China is making significant advancements despite US tariffs and sanctions. With the upcoming presidential election, the dynamics could shift. Wilkins also highlights China's strategic countermeasures, like stockpiling semiconductor equipment, and examines the implications of US actions against companies like Huawei. The conversation reveals the complexities of curbing China's tech ambitions amidst escalating tensions.

Gabrielle Copolla, Bloomberg’s auto reporter with a focus on electric vehicles, and Danny Lee, a specialist in China's EV supply chain, discuss the meteoric rise of BYD. Once a battery manufacturer, BYD now dominates the affordable EV market. They delve into BYD's innovative Blade battery technology and its strategic pivots that turned it into a serious rival to Tesla. The conversation also touches on China’s unique capitalism and its impact on the global auto industry, revealing how BYD's growth has reshaped market dynamics.

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.