We’re taking The Big Take to Asia. Each week, Bloomberg’s Oanh Ha tells a story from the home of the world’s most dynamic economies – and the markets, tycoons and businesses that drive the ever-shifting region.
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The American Toymaker Suing Trump Over Destructive Tariffs
Trump’s trade war has thrown American businesses, which source everything from aircraft parts to baby strollers from China, into chaos. Now some companies are challenging the president’s tariff rulings in the courts.
On today’s Big Take Asia Podcast, host K. Oanh Ha is joined by Rick Woldenberg, CEO of the toy company Learning Resources, and Bloomberg’s Lucille Liu, to talk about the impact of the trade war on US importers and Chinese manufacturers and what it ultimately means for American consumers.
Read more: Chinese Toymaker Takes Drastic Action to Survive Trump’s Tariffs
Further listening: Live from Hong Kong: Why China Can Afford to Wait for a Deal, and the US Can’t
The US and China’s High-Stakes Diplomacy
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What the Israel-Iran Conflict Means for China
On Tuesday morning, in a series of posts celebrating the fragile ceasefire between Iran and Israel, Donald Trump touched on one of Iran’s most significant economic relationships, writing, “China can now continue to purchase oil from Iran.”
Today on Big Take Asia, host Oanh Ha is joined by John Liu, who oversees Bloomberg’s China coverage from Beijing, to discuss what’s at stake for China in Iran and how the conflict could change China’s game plan — not just in the Middle East, but on the global stage.
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How China Is Building a Powerful Army of Hackers
Teams from China used to dominate international hacking competitions, until Beijing ordered them to stop attending and take part only in domestic tournaments.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Jamie Tarabay about how tournaments are helping boost China’s cyber-espionage capabilities and what that means for the world.
Read more: Chinese Hacking Competitions Fuel the Country’s Broad Cyber Ambitions - Bloomberg
Further listening: The ‘Everything, Everywhere, All at Once’ Cyber Threat
Watch, from Originals: How China Is Building an Army of Hackers
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The US and China’s High-Stakes Diplomacy
President Donald Trump said a trade framework with China has been completed after two days of talks in London. He said Beijing would supply rare earths and magnets “UP FRONT” and the US would allow Chinese students into colleges and universities.
On today’s episode, Big Take hosts Sarah Holder and K. Oanh Ha speak to Bloomberg’s Brendan Murray, who’s on the ground in London, and John Liu about how the two countries will hammer out a deal. This conversation was taped before Trump announced a deal had been done.
Read more: Trump Says China Will Ship Rare Earths in ‘Done’ Trade Deal
Further listening: A Turning Point in Trump’s Trade War
Is the US-China Trade War Over?
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Wall Street Banks Are Battling for Japan’s Top Young Talent
Japan’s hottest banking talent is in high demand as Wall Street goes all out to woo new hires with fancy dinners, strong-arm tactics and higher salaries.
On today’s Big Take Asia Podcast, Bloomberg’s Lisa Du talks to host K. Oanh Ha about why firms are resorting to extreme measures and the problems they face in hiring top talent.
Read more: Global Banks Scramble to Hire Top Talent in Booming Japan
Further listening: Can’t Get Enough of Matcha? Too Bad – Japan Is Running Low
South Korea Has Plenty of Botox But Not Enough Doctors
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Nintendo's Big Bet on Switch 2
The Nintendo Switch has generated some $100 billion in sales for the Japanese gaming giant since its launch in 2017, propelling the company’s shares to record highs.
Now the game-maker is under pressure to do even better with the new Switch 2, out this week. On today’s Big Take Asia Podcast, Bloomberg Opinion’s Gearoid Reidy joins host K. Oanh Ha to talk about why the Switch 2 is so important to Nintendo’s business and whether it can live up to the hype.
Read more: If the Switch 2 Stumbles, Nintendo Has No Plan B
Watch, from Originals: Nintendo’s High-Stakes Bet on the Switch 2
Further listening: A Turning Point in Trump’s Trade War
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The Dollar’s Dominance Is Unwinding in Asia
As Donald Trump tries to remake global trade, the dollar’s historic dominance in Asia is under pressure. After Taiwan’s currency saw the biggest surge against the dollar in almost 40 years in early May, some money managers are saying the spike signals the acceleration of a bigger trend of moving investments back home.
On today’s Big Take Asia Podcast, host Rebecca Choong Wilkins talks to Bloomberg’s Ruth Carson about what’s driving Asia’s shift away from the greenback and what a rewiring of global financial ties means for the region’s biggest economies.
Read more:
Asia’s $7.5 Trillion Bet on US Assets Is Suddenly Unravelling
Further listening:
Carry Trades, Explained
Could the Chinese Yuan Ever Replace the US Dollar?
Big Take DC: Stephen Miran on Market Woes and Currency
Watch, from Originals: Why the US Is Getting Downgraded
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What It Takes to Negotiate With China
The trade war between the US and China is on pause, with both sides hoping to agree on a new trade deal by early August. But questions remain about how realistic that timetable could be, given the challenges facing the world’s two largest economies, who both collaborate and compete with one another.
On today’s Big Take podcast, Former US Ambassador to China Nicholas Burns joins host David Gura to discuss the trade war, the challenges facing his successor and what he’s telling foreign policy students who are worried about the future of diplomacy. “We’ve gotta steel ourselves for the next decade or two to a historic competition with China. And China right now is stronger.”
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Who Is the Mysterious Founder of China’s DeepSeek?
Despite the global hype around China’s DeepSeek, very little is known about the man behind it – Liang Wenfeng.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's Saritha Rai about the tech founder who led DeepSeek to the frontline of AI advances and what the company’s rise tells us about the battle for AI dominance.
Further listening: Why DeepSeek Sent Nvidia, Other Tech Stocks Tumbling
Watch, from Originals: How China’s DeepSeek Came for Big AI
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Is the US-China Trade War Over?
In a stunning turn of events, the US and China announced a dramatic reduction in tariffs, which President Trump portrayed as a “total reset” with China. Stocks rose following the news, but what lies ahead once the 90-day reprieve expires remains uncertain.
On today’s Big Take podcast, Bloomberg Treasury reporter Dan Flatley joins host David Gura to discuss the major takeaways from these latest negotiations and what they could mean for the world’s two largest economies.
Read more:
- ‘Buy America’ Sweeps Across Global Markets After Trade Talks
- China Tariff Relief Spurs Shipping Rush, U-Turn on Price Hikes
- Nasdaq 100 Enters Bull Market After US-China Truce: Markets Wrap
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How India and Pakistan Averted War
Last week, India and Pakistan saw the worst fighting in half a century — and came close to an all-out war. But the conflict came to an uneasy and sudden halt after Donald Trump declared the two countries reached a ceasefire.
On today’s Big Take Asia Podcast, Rebecca Choong Wilkins talks to Bloomberg’s Dan Strumpf about how the deadly clashes and ceasefire unfolded and the implications of US mediation in the decades-old conflict.
Read more: Trump Truce Leaves India Furious, Pakistan Elated as Risks Loom
Further listening: The Rise of Modi, Part 1: Why India’s Leader Is So Popular – and Polarizing
The Rise of Modi, Part 2: How India’s Leader Came Back From the Brink
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How a CEO’s Faked Results Led to a $300 Million Wipeout
In late 2018, five years after launching fish-feeding company eFishery, Gibran Huzaifah found himself all out of cash. To save his business, the CEO started plugging fake numbers into financial reports. The brighter picture drew hundreds of millions of investor dollars. But his house of cards was doomed to collapse.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's David Ramli about the fall of eFishery and what it says about the risks of venture capital investing.
Read more: CEO Explains How He Faked Results in $300 Million Meltdown
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The Human Egg Trade: Episode 3 - The Journey
A new series from the Big Take podcast investigates the booming market for human eggs.
In this episode, host Sarah Holder and Bloomberg’s Jessica Brice focus on the Kemptons, an Australian couple who needed donor eggs to get pregnant. They wanted access to a market they felt offered transparency. They especially wanted information about potential donors. What followed was an around-the-world quest to create a family — filled with promise, gutting losses and extreme cost.
Read more: The Egg
Listen to the rest of the series: The Human Egg Trade: Episode 1 - The Lie
The Human Egg Trade: Episode 2 - The Theft
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The Human Egg Trade: Episode 2 - The Theft
A new series from the Big Take podcast investigates the booming market for human eggs. It’s a global and opaque market where demand is so great, that even where regulations are in place, there are powerful incentives to evade them.
In this episode, host Sarah Holder and Bloomberg’s Vernon Silver focus on one fertility clinic in Greece that police say stole the eggs of as many as 75 women. It’s a story that shows how the actions of one clinic can have ripple effects around the world and reveals the unique ways that the fertility industry runs not only on capital, but on trust.
Read more: The Egg
Listen to the rest of the series: The Human Egg Trade: Episode 1 - The Lie
The Human Egg Trade: Episode 3 - The Journey
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The Human Egg Trade: Episode 1 - The Lie
A series from the Big Take podcast investigates the booming market for human eggs. It’s a global and opaque market where demand is so great, that even where regulations are in place, there are powerful incentives to evade them.
In this episode, host Sarah Holder is joined by Bloomberg’s Natalie Obiko Pearson to unpack an investigation in India that revealed how far some people will go to get a cut of this trade, even if it means exploiting a child.
Read more: The Egg
Listen to the rest of the series:The Human Egg Trade: Episode 2 - The Theft
The Human Egg Trade: Episode 3 - The Journey
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How Trump’s Tariffs Are Hitting Global Economic Growth
The International Monetary Fund released a forecast this week projecting that global GDP will grow just 2.8% — down half a percentage point since US President Donald Trump unleashed a raft of tariffs on April 2. Their projection for US GDP growth was particularly grim: Down nearly an entire percentage point from expectations earlier this year.
And they’re not alone. As economists try to measure the potential outcome from the current trade war and the whiplash of on-again-off-again tariffs, Bloomberg Economics landed on similar GDP projections
On today’s episode of the Big Take, host Sarah Holder is joined by Bloomberg’s Enda Curran and Bloomberg Economics Chief Economist Tom Orlik to discuss what these projections can — and can’t — tell us about where the trade war could lead.
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How a Chinese Toy Company Is Defying the Trade War
Chinese toy company Pop Mart is one of the hottest stocks this year thanks to the wild popularity of its Labubu dolls and other blind box toys.
On today’s Big Take Asia podcast, host K. Oanh Ha talks to Bloomberg Opinion’s Shuli Ren about how the company’s business model could help it ride out the trade-war storm.
Read more: China’s ‘Blind Box’ Magic Breeds Millions of Peter Pans
Further listening: How China’s BYD Became King of the Affordable EV
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Who Will Blink First in the US-China Trade War?
As the trade war between Donald Trump and Xi Jinping continues to escalate, economists around the world are asking who will blink first.
On this episode of the Big Take podcast, Bloomberg’s John Liu and Jennifer Welch join host David Gura to discuss what it will take for both presidents to come to the negotiating table, how the current state of China’s economy impacts its positioning in the trade war and why hardball tactics are unlikely to work this time around.
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Inside the Explosive Feud That Rocked Singapore’s Richest Family
For decades, Singapore’s Kwek family, owners of one of the city’s biggest developers, looked to be the model of a successful family-run business. But that image was shattered when the family patriarch filed a lawsuit against his son.
On today's Big Take Asia Podcast, host K. Oanh Ha sits down with Bloomberg’s Sheryl Lee and Dexter Low to examine what happened behind the boardroom doors of City Developments and how investors are navigating its fallout.
Further listening: A New Breed of Scammer Is Targeting Asia's Ultra-Rich
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Why Asia Was Hit Hardest by Trump’s Tariff Onslaught
US President Donald Trump shocked the world -- and global markets -- with tariffs that exceeded expectations last week. But there was one region that was hit harder than most: Asia. Exporting powerhouses like China and Vietnam were slapped with some of the highest levies of any country, with China now facing an additional 50% tariff, bringing the total rate of its levies to more than 100%.
On today's Big Take Asia Podcast, host K. Oanh Ha sits down with Bloomberg's John Liu in Beijing and John Boudreau in Ho Chi Minh City to discuss the reactions from Asian economies and how the tariff onslaught may upend the trading world order.
Read more:
Trump’s Tariffs and China Collide to Shock the $115 Trillion Global Economy
Tariffs Rip Through Southeast Asia Stocks, Sink Vietnam’s Market
Further listening:
The Trump Trade War’s First Casualty? The Bull Market
Trump Announces Sweeping New Tariffs. What’s Next
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Trump Announces Sweeping New Tariffs. What’s Next
Trump announced the steepest American tariffs in more than a century, with a 10% tariff on all exporters to the US and even higher duties on some 60 nations. China now faces a tariff well above 50% on many goods.
On today’s Big Take, Bloomberg reporter Josh Wingrove joins host David Gura to discuss Trump’s “huge” announcement, and how it will reshape global trade.
Read more: Trump Tariffs Everyone, With Rate on China Set to Soar Above 50%
Further listening: The World Is Paying for Trump’s China Tariffs
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As India’s Stock Market Surged, So Did Investment Scams
India’s historic stock market surge sparked a retail-investing frenzy that minted millionaires. But the boom also became a breeding ground for financial scams.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Alex Gabriel Simon about the retail investors that have been cheated out of their life savings, and how this influx of scams could undermine Prime Minister Narendra Modi’s efforts to promote his nation’s stock market to global money managers.
Read more: Scamsters Trick India's Retail Investors Out of Millions in Life Savings
Further listening: Inside Southeast Asia’s Most Notorious Crime Hub
Watch, from Originals: Is India's Stock Market a Bubble About to Burst?
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The World Is Paying for Trump’s China Tariffs
Trump's tariffs on China are causing a lot of pain around the world. Products that would've gone to the US are now pouring into other countries, leading to factory closures and layoffs. And this is likely to increase after April 2, when President Trump has promised to put in place a new set of tariffs.
On today’s episode of the Big Take, Katia Dmitrieva joins David Gura to talk about the collateral damage from Trump’s trade war with China.
Read more: A New ‘China Shock’ Is Destroying Jobs Around the World
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US-China Rivalry in the Trump Era: A Discussion
If US-China relations could be compared to a dish, what would it be? Sichuan hotpot? Sweet and sour pork? In a special episode of the Big Take Asia podcast, a panel of Bloomberg experts examines how the world's superpowers have been slugging it out since Donald Trump started his second stint as US president.
Join host K. Oanh Ha as she sits down with Bloomberg’s John Liu and Nancy Cook, and Opinion’s Shuli Ren and Timothy O’Brien for a discussion recorded live in Singapore.
Further listening:
Xi’s Big Challenge Is Getting People to Spend, Spend, Spend
China’s New Game Plan for Dealing With Trump Tariffs
Watch, from Originals: What Trump's Tariffs Mean for the World Economy
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Can’t Get Enough Of Matcha? Too Bad – Japan Is Running Low
Japan has a matcha shortage despite record levels of production. Shops are selling out of the green tea powder as soon as they hit the shelves.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's Mia Glass about the world’s obsession with matcha – and why producers can’t keep up with the rising demand.
Read more: The Global Matcha Boom Is Driving a Shortage in Japan
Further listening: Japan’s Small Businesses Have a Problem. They Don’t Know How to Raise Prices
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China’s Power Play In the Indian Ocean
Mauritius and neighboring islands in the Indian Ocean are at the center of a great-power chess match involving the US, China and India. All want to use them as bases to protect shipping lanes and project military might in the region.
On today’s Big Take Asia Podcast, host K. Oanh Ha is joined by Bloomberg correspondent Peter Martin to discuss the power struggle, and the implications of China’s growing clout in the region.
Further listening: The Shadowy Fleet of Tankers Moving Iranian Oil to China
Watch, from Originals: China’s Power Play In the Indian Ocean
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Xi’s Big Challenge Is Getting People to Spend, Spend, Spend
A crippling property crisis, mounting debt, weak consumer spending… and now a trade war. Despite the headwinds, China has set an ambitious economic growth goal of about 5% this year.
On today’s Big Take Asia podcast, host K. Oanh Ha speaks to Bloomberg’s John Liu about how Xi Jinping intends to meet the target, and how Trump’s tariff war might sabotage his plans.
Read more: Trump’s Tariffs Push Xi to Overhaul China’s Ailing Growth Model
Further listening:
China’s New Game Plan For Dealing With Trump Tariffs
Xi Has Embraced China’s Tech Titans Once Again. Will It Last?
Watch, from Originals: Can China Avoid Japan’s Lost Decades?
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Xi Has Embraced China’s Tech Titans Once Again. Will It Last?
Four years after launching a regulatory crackdown that plunged the tech sector into turmoil, China’s President Xi Jinping sat down publicly with Alibaba Group’s co-founder Jack Ma, whose firm bore the brunt of that campaign, and a number of other tech titans.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Lucille Liu and Opinion columnist Catherine Thorbecke about Xi’s shifting stance and where the tech industry goes from here.
Read more: Xi’s Embrace of China Tech CEOs Spurs Hope of Big Economic Shift - Bloomberg
Further listening: China’s New Game Plan For Dealing with Trump Tariffs
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How Amazon Rival Temu Got Sucked Into Trump’s Trade War
Since its US launch in 2022, Chinese marketplace Temu has rapidly risen to become America’s biggest e-commerce platform after Amazon, thanks to ultra-low prices on almost every product imaginable.
On today’s Big Take Asia Podcast, host K. Oanh Ha speaks to Bloomberg’s Spencer Soper and Rachel Chang about Donald Trump’s order to close a tariff loophole and what it means for American shoppers and the giants supplying them with goods direct from China.
Further listening: The Tariff Wars Are Here — And They’re Messy
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What Thailand's Same-Sex Marriage Victory Means for the Economy
Thailand became the first country in Southeast Asia to recognize same-sex marriage last month. And to mark the occasion, nearly 2,000 couples tied the knot on the first day the law came into effect.
In this bonus episode of the Big Take Asia podcast, host K. Oanh Ha speaks to a lesbian couple who were among the first in the country to get married that day and to Bloomberg reporter Patpicha Tanakasempipat on what the landmark law change means for equality in the country and the nation’s economic growth.
Read more: Same-Sex Marriage Win Opens Up ‘Rainbow Tourism’ in Thailand
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China’s New Game Plan for Dealing With Trump Tariffs
As US President Donald Trump imposes new tariffs on China, Xi Jinping's government has had a far more muted response than it did during the trade war in Trump’s first term.
On today’s Big Take Asia Podcast, host K. Oanh Ha is joined by Bloomberg editor Jenni Marsh and Bloomberg Opinion columnist Shuli Ren to unpack China’s response to Trump’s barrage of tariffs and discuss what’s at risk for both countries if they find themselves in another trade war.
Read more: China’s Mr. Big Won’t Cave In to Trump for Nothing
Further listening: The Tariff Wars Are Here — And They’re Messy
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The Tariff Wars Are Here — And They’re Messy
Is it a trade war or is it whiplash?
On Saturday, President Trump announced new 25% tariffs on imports from Canada and Mexico, and an additional 10% tariff on Chinese goods. On Sunday, he said tariffs were coming for the European Union, too.
The tariffs were initially supposed to take effect at 12:01 am Tuesday morning eastern time, but since that weekend announcement, the tariffs on Mexican and Canadian goods have been delayed for one month. Meanwhile, the tariffs on Chinese goods are proceeding as scheduled.
On today’s Big Take podcast, Bloomberg’s global economy reporter Enda Curran and host Sarah Holder make sense of the news — and discuss how this could disrupt the US economy and reshape global commerce.
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Why Are Chinese Consumers So Keen on Gold?
Shuibei, in southern China, is home to one of the world's biggest retail markets for gold. Over the past year, it's seen a boom in demand for the jewelry, sold by thousands of stallholders, as the Chinese property crisis and slowing economy spurred a flight into gold. So much so that Chinese consumers helped propel the global gold price to record highs in 2024.
On today's Big Take Asia podcast, K. Oanh Ha talks to Bloomberg's Chongjing Li about the enduring appeal of the precious metal in China, and what lies ahead.
Read more: The Epicenter of China’s Gold Craze Is a Former Fishing Village
Watch, from Bloomberg Originals: What Gold’s Crazy Run Says About China
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Americans Flocked to RedNote as the TikTok Ban Loomed. Will the Party Last?
The US ban on TikTok saw millions of users – predominantly Americans – flock to another Chinese social media platform: Xiaohongshu, also known as RedNote. So far, the vibe between Chinese and American users has been convivial.
But can the good times last? On today’s Big Take Asia Podcast, host K. Oanh Ha is joined by a TikTok user from Mississippi who recently joined RedNote and by Bloomberg reporter Gao Yuan to discuss what this sudden influx means for the app, its users and China’s censorship machine.
Read more: TikTok Refugees in US Test Xi’s Firewall While Embracing Chinese
Further listening: Inside Microsoft’s Censorship of Bing in China
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South Korea Has Plenty of Botox But Not Enough Doctors
A record 600,000 people traveled to South Korea for medical procedures in 2023, with roughly half of those visiting dermatology and plastic surgery clinics.
On today's Big Take Asia Podcast, host Rebecca Choong Wilkins talks to Bloomberg's Oanh Ha about the rise of the medical tourism industry, and how it’s colliding with a shrinking supply of doctors and a struggling medical system.
Further listening: Netflix’s Big Bet On ‘Squid Game’
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Why Millions of Young Chinese Are Refusing to Make Pension Payments
China’s pension system is in danger of running out of cash within a decade due to severe underfunding. Now it faces a new threat: Tens of millions of mostly young workers are refusing to pay into it.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Qianwei Zhang about why workers are boycotting the system and what’s at stake for the struggling economy and the Communist Party.
Further listening: China’s Crackdowns Are Crushing the Dreams of a Generation
Watch, from Bloomberg Originals: Why Are China’s Youth Boycotting Pensions?
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The Coffee Shop That's Been Eating Starbucks' Lunch in China
China’s Luckin Coffee is the nation’s top coffee retailer, overtaking even Starbucks. That would be notable itself, but less than four years ago the company filed for bankruptcy, making its comeback even more unlikely. The turnaround is in part thanks to the chain’s automated stores, cut-price deals and innovative drinks that appeal to local tastes.
Today on The Big Take Asia, host K. Oanh Ha speaks with Bloomberg’s Rachel Chang on how Luckin managed to turn around its failing business to overtake Starbucks, and asks whether it can hold on to its success as coffee takes off in China, and more rivals emerge.
Read more: China’s Luckin Coffee Is Back From the Brink and Beating Starbucks
Further listening: What Does China’s Economic Slowdown Mean For the Communist Party?
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Netflix’s Big Bet On ‘Squid Game’
The gory, dystopian South Korean thriller Squid Game is the most popular series Netflix has ever released. This week, it drops season two — in the midst of the company’s efforts to grow the show beyond the screen.
On today’s Big Take Asia Podcast, host Rebecca Choong Wilkins talks to Bloomberg’s Sohee Kim and Lucas Shaw about the new season, the story of how the show was nearly never made and all the ways Netflix is trying to expand Squid Game into a global franchise — from reality TV and video games to in-person fan experiences.
Read more: ‘Squid Game’ Returns in Test of Netflix Global Marketing Muscle
Further listening: K-Pop’s Big Bet on Becoming Less Korean
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China Had a Plan to Rescue Its Housing Market. It’s Not Working
China’s property crisis has become a massive headache for the world’s second-largest economy. Tens of millions of newly built apartments lie vacant, home prices have tumbled and cash-strapped developers are struggling to finish construction.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Lulu Chen about what China is doing to try and solve its housing crisis. We go to Zhengzhou, home to the world’s biggest iPhone factory and the city where the housing market first imploded. It's now become a testing ground for government efforts to revive the ailing property sector. We look at whether they’re working, and what it will mean for China’s economy if the big push fails.
Read more: China’s Housing Rescue Falls Short in City That Signaled the Crisis
Further listening: What Comes Next in China’s Property Crisis
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The Most Powerful Families in South Korea Brace for the Next Revolt
South Korea’s family-run conglomerates – or chaebols – have been big drivers of economic growth, and because of that they’ve largely been seen as untouchable. Until now. The chaebols are being challenged, at a time when the stakes have potentially never been higher, with the country mired in political turmoil. On today’s Big Take Asia Podcast, Rebecca Choong Wilkins talks to Bloomberg reporter Youkyung Lee about how a surprise takeover bid for one of the world’s biggest refined metal producers, Korea Zinc, is sending a chill through the chaebol world.
Read more: Powerful Families Who Dominate South Korea Face an Investor Revolt
Further listening: The Six Hours of Martial Law That Stunned South Korea
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The Six Hours of Martial Law That Stunned South Korea
In an address broadcast live on Tuesday night, South Korean President Yoon Suk Yeol declared martial law in a move that shocked the nation – and the world. But within hours, after lawmakers unanimously rejected the move and protesters converged on parliament, Yoon went on live television again and backed down, promising to lift the emergency measure.
On today's Big Take Asia Podcast, host K. Oanh Ha sits down with Bloomberg’s Sam Kim in Seoul to break down the stunning turn of events. They talk about what happened on the ground during the brief period of martial law, and what the political chaos means for an emerging democracy that remains a key military ally and trading partner of the US.
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The $250 Million Bribery Charges Rocking the Adani Empire – and India
India’s Gautam Adani, one of the world’s richest men, was charged last week by US prosecutors over his alleged involvement in a $250 million bribery scheme. The indictment sent the stocks and bonds of Adani’s vast conglomerate tumbling and is the second governance crisis to hit the group in two years.
On today’s Big Take Asia Podcast, host K. Oanh Ha and Bloomberg’s Menaka Doshi discuss what the charges mean for Adani’s empire and corporate India, and the implications for US-India relations.
Read more: Gautam Adani Bribery Charges Impact His Net Worth, Markets Beyond India
Further listening: $200 Billion, Four Heirs And One Mighty Empire
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The Shadowy Fleet of Tankers Moving Iranian Oil to China
Every year, billions of dollars of sanctioned Iranian oil finds its way to China, even though on paper the country hasn’t imported a single drop in more than two years. How? On today’s Big Take Asia podcast, host K. Oanh Ha speaks to Bloomberg’s Serene Cheong on her team’s investigation into a clandestine shipping hub off the coast of Malaysia that funnels Iranian crude to China.
Read more: The Clandestine Oil Shipping Hub Funneling Iranian Crude to China
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Another Trump Term Is Coming. Is Asia Ready?
Higher tariffs. Geopolitical flare-ups. Inflammatory comments. All across Asia, countries are bracing for the return of Donald Trump.
On today’s Big Take Asia Podcast, we unpack what a second Trump term means for China, India and other Asian economies – who are the potential winners and losers and what’s ahead. Host K. Oanh Ha is joined by Daniel Ten Kate, Bloomberg’s executive editor for Asia economy and government, Chan Heng Chee, the ambassador-at-large with the Singapore Foreign Ministry, and Erin Murphy, deputy director of Chair on India and Emerging Asia Economics at the Center for Strategic and International Studies.
Read more: Trump Is Set to Elevate China Hawks, Deepening Beijing Rift
Further listening: The Economic Impact of Trump’s Promises
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Pakistan Is Getting Too Expensive For Its Middle Class – So They’re Leaving
A record number of Pakistanis are leaving at a rapid speed. Among them are some of the country’s top talent including doctors, engineers, accountants and managers. Over the last three years, one million skilled workers like them have left Pakistan.
On today’s Big Take Asia Podcast, host Rebecca Choong Wilkins talks to Bloomberg’s Pakistan Bureau Chief Faseeh Mangi about what’s behind the severe brain drain in one of the world’s most populous nations, where the immigrants are going, and what it means for the country’s already fragile economy that depends on loans from the International Monetary Fund.
Read more:
Pakistan’s Top Talent Is Leaving the Country in Record Numbers
Watch, from Bloomberg Originals:
What’s Driving Pakistan’s Middle Class Brain Drain?
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The US Pledged to Contain China’s Tech Ambitions. It’s Not Working
China is making steady progress in its quest to dominate key industries of the future, despite years of US tariffs, export controls and sanctions.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Rebecca Choong Wilkins about how the US is struggling to curb Beijing’s technological advances, and whether the upcoming election could change the dynamic.
Read more: US Efforts to Contain Xi’s Push for Tech Supremacy Are Faltering
Further listening:
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On Thursday, Odd Lots will dig into Bloomberg’s research on the Made in China plan, and why it largely succeeded in spite of US efforts. Subscribe here.
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How China’s BYD Became King of the Affordable EV
Started as a battery company in the 1990s in Shenzhen, BYD is now one of the best-selling EV brands in the world. Once mocked by Elon Musk, the company’s startling growth made it a global player and has sparked tariffs in the US and EU.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Gabrielle Coppola and Danny Lee about the company’s aggressive expansion and what it means for the global auto market.
Read more: BYD Is Winning the Global Race to Make Cheaper EVs
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How an Infamous Vietnamese Businesswoman Engineered a $12 Billion Fraud
Vietnamese real estate tycoon Truong My Lan was convicted in April of orchestrating a $12.3 billion fraud. She was sentenced to death by lethal injection, which she is appealing. And this week, the court is expected to hand down another verdict on additional charges.
On today’s Big Take Asia podcast, host K. Oanh Ha speaks to Bloomberg’s John Boudreau about how Lan was able to embezzle so much money for so long, how she went from riches to death row and what her multibillion fraud case means for one of the fastest growing economies in Asia.
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Inside the Succession Drama at a Hong Kong Property Dynasty
Adrian Cheng, the third-generation scion of property dynasty New World Development, seemed poised to take over his family’s $20 billion empire. But last month, in a surprising twist, he was replaced as CEO by someone outside of his family.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Shawna Kwan about the succession drama at New World, the possible ripple effects on other family dynasties in the region, and what it all could mean for the future of one of Hong Kong’s major property developers.
Read more: New World Scion’s Fall Upends Succession at $23 Billion Dynasty
Further listening: $200 Billion, Four Heirs and One Might Indian Empire
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Tim Walz’s Deep China Ties Could Spell Trouble for Democrats
With relations between Washington and Beijing at a critical point, US Democratic Vice Presidential candidate Tim Walz’s time in China has come under scrutiny from Republicans. Walz first went to China as a teacher in 1989 after the Tiananmen Square military crackdown. Over the years, he continued to return to China, even spending his honeymoon there.
On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Daniel Ten Kate and Professor Li Cheng from the University of Hong Kong about what Walz’s track record on China could mean should the Democrats win the election – and whether Walz’s ties with the country would be an asset or liability.
Update: During the vice presidential debate on October 1st, Democratic candidate Tim Walz said he misspoke about being in Hong Kong on June 4, 1989. That’s when the Tiananmen Square protests turned deadly. He didn’t clarify his whereabouts at the time and said that he was in Hong Kong and China in the summer of that year.
Walz has also said he’s traveled to China about 30 times. A Harris-Walz campaign spokesperson said the number of trips Walz took to China is “likely closer to 15.”
We’ve updated the episode to reflect these updates.
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Could the Chinese Yuan Ever Replace the US Dollar?
Talk of de-dollarization has been gaining momentum among China, India, Brazil, Russia and South Africa in the wake of significant US led sanctions on Russia. Former US President and candidate Donald Trump has said the currency is under attack — and that any country that shuns it would face new tariffs on imports if he is elected.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Saleha Mohsin about the unique role the dollar plays in the world economy — and what, if anything, could replace it.
Read more: The Dollar’s Dominance, Explained
Further listening: Odd Lots Podcast – How the US Dollar Became an International Weapon of War
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China’s Crackdowns Are Crushing the Dreams of a Generation
China’s drive to upgrade its struggling economy has left millions of people facing job losses or pay cuts, fueling an existential crisis among some of its best and brightest workers.
On today's Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg's Lulu Chen about the impact Xi Jinping’s push is having on professionals, from banking to tech, and what this anxiety could mean for the outlook of the world’s second-largest economy.
Read more:
China’s CICC Demotes Senior Bankers, Cuts Pay to Slash Costs
Further listening:
Why China’s Investment Bankers Are Breaking Up With Capitalism
What Does China’s Economic Slowdown Mean For the Communist Party?
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Indonesia Is Building a New Capital. It’s Not Going Well
Indonesia has embarked on an ambitious project to build a new capital city from scratch because Jakarta is overcrowded, polluted and sinking, fast.
But the multibillion dollar new city, Nusantara, was plagued with problems from the very start. On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Faris Mokhtar about what went wrong, and what’s at stake for Southeast Asia’s largest economy if it fails.
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Carry Trades, Explained
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 - Bloomberg
Watch, from Bloomberg Originals: Why Japan’s Yen is So Volatile
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Humans and AI Bots Blur in the World's Call Center Capital
Call centers in the Philippines, the world’s second-biggest outsourcing center after India, are embracing artificial intelligence - and it’s radically changing what it looks and sounds like to work there.
On today's Big Take Asia Podcast, host Rebecca Choong Wilkins demos the Sanas AI app and talks to Bloomberg's Saritha Rai about the industry's rapid transition and what it might mean for workers around the world.
Read more: The World's Call Center Capital Is Gripped by AI Fever — and Fear
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Inside Southeast Asia’s Most Notorious Crime Hub
A Chinese businessman persuaded officials to establish a special economic zone in a remote part of Laos. The gamblers arrived first. Then came the drug runners, human traffickers and scammers.
On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg Businessweek editor Matt Campbell about his investigation into the Golden Triangle Special Economic Zone and how it became a criminal’s paradise.
Read more: Dodge City
Watch, from Bloomberg Originals: How One Man Rules in Asia's Golden Triangle
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After a Deadly Student Uprising, Bangladesh Starts Over, Again
After weeks of protests and a brutal crackdown that led to several hundred deaths, Bangladesh’s Prime Minister Sheikh Hasina was forced to step down and flee the country, putting an abrupt end to her more than 15 years in power. Stepping into the leadership vacuum is Nobel Prize-winning economist Muhammad Yunus, who we spoke to last month -- when he was facing charges that his supporters said were trumped up by Hasina.
Today on The Big Take Asia, host K. Oanh Ha speaks to Bloomberg’s Kai Schultz about what drove the student-led uprising and Hasina’s downfall, Yunus’s surprising turn to politics, and what’s at stake for one of Asia’s most promising economies.
Read more:
Yunus Cleared in Graft Case After Becoming Bangladesh Leader
Further listening:
Why This Nobel Prize Winner Faces Life Imprisonment in Bangladesh
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$200 Billion, Four Heirs And One Mighty Indian Empire
Gautam Adani, the controversial Indian billionaire, gathered his two sons and two nephews for a family lunch one day and asked them a bombshell question: Did they want to carve up the Adani Group’s sprawling businesses between themselves and part ways? Or did they want to stick together? He gave them three months to decide.
Today on The Big Take Asia, host K. Oanh Ha talks to Bloomberg editor Anto Antony about the Adanis’ ambitious succession plan, in the wake of regulatory probes and a daring short-seller attack. We also hear from the Adanis themselves on their vision of an Adani Group without Gautam at the helm, how they’ll make decisions to manage an empire – which spans everything from airports to solar farms – and what's at stake for India’s $3.5 trillion economy.
Read more: Adani Unveils $213 Billion Succession Plan as Scrutiny Persists
Further listening: The Rise of Modi: Why India’s Leader Is So Popular – and Polarizing
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Japan’s Small Businesses Have a Problem. They Don’t Know How to Raise Prices
Costs are rising in Japan and small businesses risk being squeezed into oblivion if they don’t figure out how to raise their prices. After decades of deflation, many small Japanese companies are out of practice on exactly how to do it.
Today on The Big Take Asia, host Rebecca Choong Wilkins talks to Bloomberg senior editor Reed Stevenson about a class he visited where people are relearning the long-lost skill of negotiation, and what a failure to raise prices at these small businesses – which make up 90% of the economy – could mean for Japan’s future.
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K-Pop's Big Bet on Becoming Less Korean
Is K-pop even K-pop without the K? A Bloomberg analysis of song lyrics shows that for the first time, almost half of K-pop songs released this year have majority English lyrics.
On today’s podcast, host Sarah Holder speaks with Bloomberg reporter Sohee Kim about the genre’s identity shift and why industry efforts to grow its global audience might mean fewer Korean band members.
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Why This Nobel Prize Winner Faces Life Imprisonment in Bangladesh
Nobel Peace Prize-winning economist Muhammad Yunus pioneered micro loans as a tool to fight poverty. Now prosecutors in Bangladesh have linked him and his colleagues to a dizzying number of crimes, including embezzlement and laundering millions of dollars.
Today on The Big Take Asia, host K. Oanh Ha speaks to Bloomberg’s Kai Schultz about the complicated saga and what implications Yunus’s case has for Bangladesh, one of the fastest growing economies. We also hear from Yunus himself, who talks about the rift between him and Prime Minister Sheikh Hasina, and the personal impact of the legal drama.
Read more: Why the Nobel-Laureate Pioneer of Microfinance Risks Life in Jail
Big Money Backs Tiny Loans That Lead to Debt, Despair and Even Suicide
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The Chinese Coffee Chain Beating Starbucks
China’s Luckin Coffee is the nation’s top coffee retailer, overtaking even Starbucks. That would be notable itself, but less than 4 years ago the company filed for bankruptcy, making its comeback even more unlikely. The turnaround is in part thanks to the chain’s automated stores, cut-price deals and innovative drinks that appeal to local tastes.
Today on The Big Take Asia, host K. Oanh Ha speaks with Bloomberg’s Rachel Chang on how Luckin managed to turn around its failing business to overtake Starbucks, and asks whether it can hold on to its success as coffee takes off in China, and more rivals emerge.
Read more: China’s Luckin Coffee Is Back From the Brink and Beating Starbucks
Further listening: What Does China’s Economic Slowdown Mean For the Communist Party?
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Why China’s Investment Bankers Are Breaking Up With Capitalism
One after another, bankers at China International Capital Corporation — China’s premier investment bank – are pledging loyalty to the Communist Party, underscoring a new reality for Wall Street-style capitalists in the era of Xi Jinping.
Today on the Big Take Asia, host David Gura speaks with Bloomberg’s Cathy Chan about the tug-of-war between communism and capitalism at the “Morgan Stanley of China,” and how politics are redefining Chinese finance.
Read More: China’s Investment Bankers Join the Communist Party as Morale (and Paychecks) Shrink
Further listening: What Does China’s Economic Slowdown Mean For the Communist Party?
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Hong Kong: Five Years After Anti-China Protests
Four years after Beijing imposed a national security law on the city, Hong Kong continues to serve as an important financial hub connecting mainland China with the rest of the world. But beneath the surface, the consequences of the crackdown are far-reaching.
Today on the Big Take Asia, ahead of the 27th anniversary of Hong Kong’s handover to China, host K. Oanh Ha speaks with Bloomberg’s China editor Alan Wong about how Beijing is reshaping Hong Kong, its impact on the city’s residents and what that means for Hong Kong’s future.
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The Dirty, Deadly Price We Pay for Clean Cars
Indonesia’s nickel business is booming. The metal is a key component in electric car batteries, but its success has a dark side: the country’s nickel mines and processing plants have a history of fatal accidents, with workers being run over by forklifts and burnt to death in smelter fires.
Today on The Big Take Asia, host Janet Paskin speaks with Bloomberg Businessweek editor Matt Campbell about his investigation into the mines. He found that nickel sourced from these plants are present in the supply chain that feeds virtually every major seller of EVs, and is an indispensable part of the car industry’s green revolution.
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A New Breed of Scammer Is Targeting Asia's Ultra-Rich
Reports of alleged imposters are cropping up more and more in the family office frenzy in Singapore and Hong Kong. The ultra wealthy use family offices to manage their finances and affairs.
Today on The Big Take Asia, host K. Oanh Ha speaks with Bloomberg investing reporter David Ramli about the secretive nature of the family office industry and why scammers are so hard to spot. Plus, she hears from Medway Investment board director Eric SayWei Neo about how people like him are becoming amateur detectives to try to weed out suspected imposters.
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A Stunning Election Result in India as Modi and BJP Fall Short
Narendra Modi’s Bharatiya Janata Party lost its majority in India’s parliament. The stunning blow is forcing Modi to rely on allies to form a government for the first time since he stormed to power a decade ago.
On today’s episode of The Big Take Asia, host K. Oanh Ha digs into India’s 2024 general election results with Bloomberg reporter Sudhi Ranjan Sen on the ground in New Delhi. And Milan Vaishnav, senior fellow and director of the South Asia Program at the Carnegie Endowment for International Peace, delves into what the results mean for both India and the world.
Read more: India Election Results
To hear more from Milan Vaishnav listen to his podcast, Grand Tamasha.
To hear more about our coverage of Narendra Modi, listen to our series, The Rise of Modi.
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Will the World’s Biggest Nuclear Power Plant Get a Restart?
All of Japan's 54 nuclear reactors were shut down after the 2011 earthquake and tsunami. As the country's energy needs soar, debate is heating up over whether to bring the world’s largest nuclear plant back online.
On today’s episode of The Big Take Asia, host K. Oanh Ha speaks to Bloomberg reporter Shoko Oda about her visit to the Kashiwazaki Kariwa plant and the challenges to rebooting it.
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What Does China’s Economic Slowdown Mean For the Communist Party?
After four decades of unparalleled gains in income and wealth, China’s 1.4 billion have been hit by a series of blows: a real estate collapse, a trade war with the US, and a crackdown on entrepreneurs have stalled the country’s prosperity engine.
On today’s episode of The Big Take Asia, host K. Oanh Ha dives into how China’s slowing economy is affecting people on the ground, and how Beijing is responding to that shift. Ha talks to Bloomberg correspondent Rebecca Choong Wilkins in Hong Kong and Bloomberg’s Chief Economist Tom Orlik.
Read more: ‘Are You Better Off?’ Asking Reagan’s Question in Xi’s China
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The Rise of Modi, Part 2: How India’s Leader Came Back From the Brink
In 2002, Narendra Modi was facing the biggest political crisis of his career. But in the aftermath of riots that left more than 1,000 people dead – most of them Muslims – he saw an opportunity to turn his fortunes around. He would go on to become one of the most powerful leaders India has seen in decades.
Host K. Oanh Ha, Bloomberg’s Sudhi Ranjan Sen and author Nilanjan Mukhophadyay trace how Modi and his government have been able to transform India into one of the fastest-growing economies in the world.
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The Rise of Modi, Part 1: Why India’s Leader Is So Popular – and Polarizing
Narendra Modi is arguably the world’s most popular politician. With nearly 1 billion Indians eligible to vote in a six-week election that concludes on June 4, Modi and his party are expected to win a majority for the third time in a row and extend their decade in power.
But there are also concerns over human rights and religious and press freedoms that many political leaders, CEOs and bankers in the West appear willing to overlook. On our first episode of The Big Take Asia, host K. Oanh Ha and Bloomberg’s Sudhi Ranjan Sen chart how Modi built up so much power over the last several decades – and why he is both a beloved and divisive figure.
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Introducing: Big Take Asia
A deep dive into understanding Asia and how it impacts the global economy and world of business.
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