Big Take Asia

After a rare double downgrade warning from MSCI, Indonesia suffered its worst stock rout in nearly 30 years. On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg Indonesia bureau chief Ben Otto about what dropping Southeast Asia’s largest economy from key global benchmarks would mean for investors and what Jakarta can do to avert the crisis. Read more: What Happens If Indonesia Is Removed From MSCI’s Global Indexes? Further listening: Indonesia’s $15 Billion Free Lunch Experiment Watch, from Originals: Inside Indonesia's Market Meltdown We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: K. Oanh Ha; Guest: Ben Otto; Produced by Naomi Ng; Edited by Crispina Robert; Engineering by Greg Tock. See omnystudio.com/listener for privacy information.

Japanese Prime Minister Sanae Takaichi wants to put Japan back in the fast lane, with huge investments in everything from AI to space technology. But can she generate the growth to justify the spending without unsettling markets and voters? On today’s Big Take Asia podcast, host K. Oanh Ha talks to Bloomberg’s Paul Jackson about Takaichi’s first-year scorecard and the economic and political pressures that could determine whether her agenda succeeds. Read more: Japan Is Still Figuring Out How a Female Prime Minister Should Lead Further listening: Japan Hikes Rates, Reshaping Carry Trade We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Host: K. Oanh Ha; Guest: Paul Jackson; Produced by Naomi Ng; Edited by Crispina Robert and Julia Weaver; Engineering by Greg Tock. See omnystudio.com/listener for privacy information.

When millions of retail investors piled into India’s options market to get rich quick, losses mounted and regulators launched a sweeping crackdown. On today’s Big Take Asia podcast, guest host Rebecca Choong Wilkins and India equities reporter Savio Shetty break down how the world’s largest options market unraveled, why regulators are struggling to police the country’s latest craze and where traders are placing their bets now. Read more: How India Built (and Broke) the World’s Biggest Options Casino Further listening: Inside Jane Street: The Enigmatic Firm That Rules Wall Street Watch, from Originals: How India's Day Retail Traders Lost Billions Host: Rebecca Choong Wilkins; Guest: Savio Shetty; Produced by Naomi Ng and Yang Yang; Edited by Crispina Robert and Julia Weaver. Engineering by Sean Carter II. See omnystudio.com/listener for privacy information.

Beyond software and chips, the AI boom relies on good old-fashioned manufacturing of essential components – a skill that has made a new class of people very, very rich. On today’s Big Take Asia podcast, host Oanh Ha talks with Bloomberg reporter Cindy Wang and Opinion columnist Catherine Thorbecke about how nimble producers—think toilet manufacturers and furniture makers—pivoted to this booming industry, and the risks of concentrating too much AI manufacturing in one part of the world. Read more: ‘Like It’s Raining Gold’: The AI Boom’s Unexpected Billionaires Bloomberg Billionaires Index: 500 of the World’s Richest People We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Guests: Cindy Wang, Catherine Thorbecke; Produced by Naomi Ng and Yang Yang; Edited by Crispina Robert and Paddy Hirsch Engineering by Greg Tock. See omnystudio.com/listener for privacy information.

China is ramping up an ongoing effort to shore up local government budgets and fund AI data centers with tax revenue from its richest citizens. Billionaires across the country are seeing bills hit their doorstep, and one major deadline to pay up is just weeks away. On today’s Big Take podcast, host David Gura talks to Bloomberg’s Lulu Chen about why Beijing is enforcing and rewriting its tax rules, and the measures some wealthy citizens are taking to pay up or fight back. View profiles for each of the world’s 500 richest people , see the biggest movers , and compare fortunes or track returns on the Bloomberg Billionaires Index. Read more: China’s Tax Grab Squeezes Rich Elite Harder Than Ever Further listening: China Tightens Its Grip on Billions in Offshore Wealth Hosted by David Gura; Guest: Lulu Chen; Produced by Naomi Ng; Edited by Aaron Edwards, Engineering by Greg Tock See omnystudio.com/listener for privacy information.

As Chinese President Xi Jinping makes his first visit to Washington in over a decade, trade and the AI race will likely dominate talks with Donald Trump. On today’s Big Take Asia podcast, host K. Oanh Ha and Bloomberg’s John Liu unpack what each leader hopes to gain and why they may have no choice but to cooperate on AI safety. Read more: The Tough AI Questions Looming Over the Trump-Xi Summit We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Yang Yang and Naomi Ng; Edited by Crispina Robert and Paddy Hirsch Engineering by Alex Sugiura See omnystudio.com/listener for privacy information.

It’s been a big week for central banks around the world. Yet among the flurry of rate decisions, the Bank of Japan’s move stands out. After decades of near-zero interest rates, policymakers are betting Japan’s economy is finally returning to something closer to normal. On today’s Big Take Podcast, K. Oanh Ha and Bloomberg’s Paul Jackson explore why the Bank of Japan is hiking rates at its fastest pace in decades, what the shift means for the yen carry trade and how Japan’s policy moves could ripple across global markets. Read more: BOJ Hikes at Fastest Pace Since 1990 After Bessent’s Calls Hosted by K. Oanh Ha and David Gura; Guest: Paul Jackson; Produced by Naomi Ng, Julia Press and David Fox; Edited by Crispina Robert and Paddy Hirsch. Engineering by Sean Carter. See omnystudio.com/listener for privacy information.

American pharma giants are increasingly turning to Chinese labs to discover, test and develop cutting-edge drugs. On today’s Big Take Asia podcast, Bloomberg’s Amber Tong and Robert Langreth join Oanh Ha to break down why global drugmakers are sourcing their next big breakthroughs from China — and what that means for US biotech dominance. Read more: Big Pharma Is Hooked on Chinese Licensing Deals Hosted by K. Oanh Ha; Produced by Naomi Ng and David Fox; Guests: Amber Tong and Robert Langreth; Edited by Paddy Hirsch and Crispina Robert. Fact-checking by Brunella Tipismana Urbano; Engineering by Alex Suguira. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

“The people building AI earnestly believe that it could kill us all by the end of the decade.” An X post by a former employee of both OpenAI and Anthropic went viral this week and is prompting big questions. Among them: are the safety concerns in the US an opportunity for China? On the Big Take podcast, host Sarah Holder and Bloomberg’s Mike Shepard talk through what an AI safety reckoning could look like — and whether an industry in the midst of intense competition can slow down. Read more: Anthropic Worker Quits Over AI Firms ‘Gambling With Our Lives’ Anthropic Says Iran, Russia Used Claude for Weapons Research We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Rachael Lewis-Krisky; Guest: Mike Shepard; Edited by Naomi Shavin and Aaron Edwards. Fact-checking by Brunella Tipismana Urbano; Engineering by Sean Carter Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Tens of thousands of workers in India are wearing head-mounted cameras to record their every move, helping train humanoid robots to perform everyday human tasks. On today’s Big Take Asia podcast, Bloomberg’s Asia AI reporter Saritha Rai joins host Rebecca Choong Wilkins for an inside look at how vast troves of data are gathered by the very people who may eventually be replaced and what it all means for the US-China race for AI dominance. Read more: Workers Are Teaching AI-Powered Robots to Take Over Their Jobs Hosted by Rebecca Choong Wilkins; Produced by Yang Yang; Reported by Saritha Rai; Edited by Crispina Robert, Patrick Hirsch. Fact-checking by Brunella Tipismana Urbano; Engineering by Alex Sugiura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Hundreds of hydropower workers remain missing in Nepal after a glacial collapse caused catastrophic flooding. The disaster laid bare the rising climate risks across Asia and the danger of building in an increasingly volatile environment. On today’s Big Take Asia podcast, guest host Rebecca Choong Wilkins sits down with Bloomberg’s Clara Ferreira Marques and Bloomberg Opinion’s David Fickling to talk about the human and economic toll of the disaster, why the catastrophe is a warning for the rest of the world and how Nepal’s big bet on clean energy may now be at risk. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Rebecca Choong Wilkins; Produced by Yang Yang; Reported by Clara Ferreira Marques, David Fickling; Edited by Paddy Hirsch, Crispina Robert and Tracey Samuelson. Fact-checking by Naomi Ng; Engineering by Alex Sugiura Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Microdramas — mini soap operas designed to be watched on your phone — have become one of the fastest-growing forms of entertainment in the world. On today’s Big Take Asia podcast, host K. Oanh Ha speaks with Bloomberg’s Yang Yang and Bloomberg Businessweek’s Christopher Beam about how millions got hooked on the medium, the challenges studios face as they try to reach new audiences and how AI could transform it all. Read more: China Has the World Hooked on Two-Minute Microdramas China Brought 90-Second Microdramas to the US. Now Hollywood Wants In We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Naomi Ng and Victor Swezey; Reported by Yang Yang and Christopher Beam; Edited by Paddy Hirsch and Crispina Robert. Fact-checking by Victor Swezey; Engineering by Alex Sugiura and Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

North Korea was supposed to be broke and isolated. Now, it’s enjoying an unexpected economic boom. On today’s Big Take Asia podcast, Bloomberg’s Cat Barton and host K. Oanh Ha unpack North Korea’s shift from pandemic-era hardship to a multibillion-dollar windfall, and discuss how the country’s newfound wealth is reshaping geopolitical alliances. Read more: Kim Jong Un Flouted Sanctions to Amass $22 Billion Windfall Further listening: North Korea’s Nuclear Program Reaches Tipping Point for the US Watch, from Originals: Why Sanctions Aren’t Stopping North Korea See omnystudio.com/listener for privacy information.

The launch of Moonshot AI’s Kimi K3 model has taken the tech world — and Washington — by storm, raising urgent questions about how a Chinese startup can suddenly rival the world's most powerful AI systems. On today’s Big Take Asia podcast, host Oanh Ha speaks with Bloomberg’s Mark Anderson about the distillation method behind Moonshot’s breakthrough and what it means for the high-stakes AI race between the US and China. Read more: Moonshot Plans IPO in Six Months After China AI Breakthrough See omnystudio.com/listener for privacy information.

Our Town from Bloomberg’s Big Take podcast follows residents of Gainesboro, Tennessee, after a group of far-right Christians moves in with plans for a radical social experiment. Listen to Episode 1 in the Big Take. See omnystudio.com/listener for privacy information.

As the Japanese yen hit a 40-year low against the US dollar, Japan's government stepped in to support its currency. And it has a powerful ally in US President Donald Trump, who is putting the US financial might behind the historic currency intervention in what he called a “signal of friendship.” On today’s Big Take Asia podcast, host K. Oanh Ha sits down with chief Asia foreign exchange correspondent Ruth Carson to unpack how the yen fell so far, what it could take to get it back on track and what’s at stake for the global economy. Read more: Bessent Says Yen Level Problem for Japan, Other Currencies Further listening: Carry Trades, Explained Could the Chinese Yuan Ever Replace the US Dollar? We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Naomi Ng, Yang Yang, Rachael Lewis-Krisky and Victor Swezey; Reported by Ruth Carson; Edited by Paddy Hirsch and Tracey Samuelson. Fact-checking by Victor Swezey; Engineering by Emma Munger and Taka Yasuzawa. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

Weeks of student-led protests forced the resignation of India’s education minister, in a rare public setback for Prime Minister Narendra Modi. On today’s Big Take Asia podcast, guest host Rebecca Choong Wilkins and Bloomberg reporter Atul Dev discuss how India’s cockroach movement grew from a satirical online joke into a powerful anti-Modi protest and why its economic grievances resonate so deeply among young Indians at this moment. Read more: Awakened Indian Students Hand Modi One of His Biggest Setbacks India Youth Protests End as Modi Bows to Group’s Demands Hosted by Rebecca Choong Wilkins; Produced by Naomi Ng; Reported by Atul Dev; Edited by Jeffrey Grocott, Paddy Hirsch and Julia Weaver. Fact-checking by Rachael Lewis-Krisky and Julia Press; Engineering by Taka Yasuzawa, Alex Sugiura, Emma Munger Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

After the pandemic-era run on medical gloves, the US government set a plan in motion to reshore manufacturing. Roughly six years and almost $1 billion later, America is once again facing potential shortages of medical gloves because of supply chain disruptions stemming from the war in Iran. On today’s Big Take podcast, host Sarah Holder and health care industry reporter Anna Edney break down why US efforts to make American medical gloves have largely failed, what it says about reshoring manufacturing writ large and where the industry goes from here. Read more: Almost $1 Billion Later, the US Still Can’t Make a Medical Glove We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Sarah Holder; Produced by Laura Newcombe and Rachael Lewis-Krisky; Reported by Anna Edney; Edited by Naomi Shavin. Fact-checking by Victor Swezey; Engineering by Sean Carter. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

When a 1,000-year-old Cambodian statue came up for auction at Sotheby’s in New York, it sparked off an investigation that uncovered one of the world’s most extensive art trafficking networks. On today’s Big Take Asia Podcast, host K. Oanh Ha talks to Bloomberg’s Matthew Campbell and American lawyer Bradley Gordon on how Cambodia’s looted treasures ended up scattered around the world and what it takes to bring them home. Read more: Chasing the Man Who Stole the Gods Watch, from Originals: Cambodia to Museums: We Want Our Statues Back We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by K. Oanh Ha; Produced by Naomi Ng; Reported by Matthew Campbell; Edited by Aaron Edwards. Fact-checking by Victor Swezey and Yang Yang; Engineering by Taka Yasuzawa and Emma Munger. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. Photo by Agnes Dherbeys/The New York Times/Redux See omnystudio.com/listener for privacy information.

China’s men’s soccer team has qualified for the World Cup just once, despite millions in investment and a personal push from President Xi Jinping to turn the nation into a footballing powerhouse. On today’s Big Take Asia podcast, host Oanh Ha speaks with Eric Zhu of Bloomberg Economics and Mark Dreyer, sports writer and author of Sporting Superpower, about why the country’s top-down engineering approach fails to capture the grassroots magic of the game and how academic pressure continues to push many young players off the field. We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Hosted by Oanh Ha; Produced by Yang Yang and Naomi Ng; Edited by Patrick Hirsch, Julia Weaver; Fact-checking by Julia Press; Engineering by Taka Yasuzawa Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.