Big Take Asia

Daniel Ten Kate, Bloomberg's executive editor of government and economics in Asia, delves into the repercussions of Trump's tariff threat on Iran, particularly for China and India. He discusses the vague legal framework surrounding these tariffs and their potential to disrupt the fragile US trade relationships. Ten Kate highlights Asia's dependency on Iranian oil and how this could solidify China's image as a reliable partner in the midst of U.S. coercion. Ultimately, he predicts that both Xi and Modi will prioritize economic stability while navigating these geopolitical tensions.

Jenni Marsh, a Bloomberg reporter specializing in Greater China politics and economics, dives into the seismic shockwaves following the U.S. military strike on Venezuela and the capture of Nicolás Maduro. She discusses how this intervention complicates China's strategic ties, especially regarding oil supplies, and could alter Beijing's stance on Taiwan. Marsh also explores the implications for Chinese investments in Latin America and the shifting focus towards minerals and electric vehicle markets, underscoring a potential shift in global power dynamics.

China started 2025 with deflation, a property crisis and fears of a “lost decade” damping sentiment. By year’s end, it had stunned the world with an AI breakthrough, a trillion-dollar trade surplus and rare earth dominance. On today’s Big Take Asia Podcast, host K. Oanh Ha talks with Bloomberg Executive Editor John Liu and Bloomberg Opinion’s Shuli Ren about how China navigated Trump’s tariff war, revived investor confidence and what risks could derail its momentum in 2026. Read more: Repeat After Me: Never, Ever Underestimate ChinaXi’s Triumphant Year Staring Down Trump Belies Woes in China Hosted by: K. Oanh Ha; Produced by: Naomi Ng and Yang Yang; Reported by: Shuli Ren and John Liu; Edited by: Paddy Hirsch; Fact-checking by: Rachael Lewis-Krisky; Engineering by: Katie McMurran. Senior Producer: Naomi Shavin. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.See omnystudio.com/listener for privacy information.

Rick Woldenberg, the fourth-generation CEO of Learning Resources, shares his insights into the challenges faced by American toymakers under Trump's tariffs. He discusses how these tariffs directly impact importers like his company, leading to rising prices for consumers. Woldenberg also reveals the legal battle he's waging against presidential authority to protect his family's business, highlighting the complexities of manufacturing in the U.S. Additionally, he explores the significant strain these policies put on small retailers and innovation in the toy industry.

Andreo Calonzo, a Bloomberg reporter, shares gripping firsthand accounts from flood-hit regions in the Philippines, including the struggles of residents in Francis village. Rosalind Matheson, Bloomberg's chief Asia correspondent, discusses the major corruption scandal, detailing how billions intended for flood control have vanished. They explore public outrage, massive protests, and the intricate kickback schemes involving lawmakers. Both guests highlight the scandal's grim implications for political stability and economic investment in the country.

Alana Waldenberg-Ruffman, Vice President of Product Development at Learning Resources, shares insights on the impact of U.S. tariffs on American toy manufacturing. She discusses the company’s shift from China to India and Vietnam due to escalating tariffs. The conversation highlights the chaos in toy factories adapting to sudden policy changes, the challenges of maintaining quality, and the innovative strategies Indian manufacturers are employing to collaborate and overcome financial roadblocks. Alana emphasizes the need for stability in U.S. trade policy to foster long-term manufacturing success.

Shawna Kwan, a Bloomberg real estate reporter in Hong Kong, and Jenni Marsh, who covers Greater China's economy and politics, dive into the devastating fire at Wong Fuk Court. They discuss the inadequate safety regulations and ignored resident complaints that contributed to the disaster. Public outrage parallels past protests, raising concerns for Beijing, which fears unrest. The conversation also touches on government response tactics, including the formation of an independent inquiry amid skepticism and potential consequences for local leadership. The tension between safety and political stability is palpable.

Joining the discussion are James Mayger, a Senior Bloomberg reporter based in Beijing with expertise in Chinese politics, and Isabel Reynolds, Bloomberg's Tokyo bureau chief focusing on Japanese politics and economy. They delve into the tensions sparked by Japanese Prime Minister Takaichi's comments on Taiwan, examining Beijing's swift economic retaliation. The duo explores historical grievances, domestic reactions in Japan, and the potential risks for Japanese companies. They also discuss U.S. diplomatic efforts and the implications for future Japan-China relations.

In this discussion, Ed Ludlow, a technology journalist and co-host of Bloomberg Tech, shares insights from his interview with Nvidia's CEO, Jensen Huang. They dive into Nvidia's impressive earnings that calm AI bubble fears and explore Huang's unique leadership style. The conversation also touches on Nvidia's vast revenue forecast, the implications of circular financing, and the contrasting AI landscapes of China and the U.S. Ed emphasizes Nvidia's crucial role in shaping the future of AI technology and the potential risks if market investments wane.

Karoline Kan, an Asia health reporter for Bloomberg specializing in biotechnology, and Andy Greenfield, a geneticist at the University of Oxford, dive into China's aggressive push to dominate the biotech industry. They discuss the ethical dilemmas of using gene-edited animals in drug development, highlighting China's rapid advancements and controversial practices. Greenfield shares his personal journey with ALS, emphasizing the urgency of scientific breakthroughs, while examining the effectiveness and moral implications of animal research in the quest for new therapies.