Southeast Asian countries such as Vietnam, Thailand and Malaysia benefited from US President Donald Trump's first administration, as Chinese companies re-routed shipments to these regions to avoid US tariffs. In his current term, President Trump's reciprocal tariffs aim to eliminate this arbitrage, but the significant tariff rate differentials between countries are creating an even greater incentive for Chinese companies to use transshipments. US efforts to enforce tariffs have become a game of whack-a-mole, according to Ebehi Iyoha, a trade economist and an assistant professor at Harvard Business School. Iyoha also highlights how small US businesses are disproportionately affected by tariffs compared with large corporations. She joins John Lee and Katia Dmitrieva on the Asia Centric podcast.See omnystudio.com/listener for privacy information.
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35:40
Rebuilding Hong Kong's Image as Asia's World City
Hong Kong is starting to look up. The Hang Seng Index has rebounded from last year’s lows and tourists are flocking to major musical and sporting events in the city's new stadium. Even expats – many of whom left for Singapore, London and elsewhere during the pandemic – appear to be returning. But structural challenges remain. The commercial property market is beset by record-high vacancy rates while retailers are reeling as residents find significant cost savings over the border in cities such as Shenzhen. And now we have the onset of US tariffs. What will it take for Hong Kong to recapture its reputation as Asia's vibrant, international city? Benjamin Quinlan, CEO of Quinlan & Associates and conference ambassador at the Hong Kong Tourism Board, says the city needs to double down on mega events. He joins John Lee and Katia Dmitrieva on the Asia Centric podcast.See omnystudio.com/listener for privacy information.
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34:08
World Economy Meeting Casts Spotlight on Trade War
The world's top economic and financial authorities descend on Washington this week for the IMF/World Bank Spring Meetings. The focus this year is overwhelmingly on trade, as US President Donald Trump's reciprocal tariffs hang over the event. And nowhere are levies more painful than in China, where the highest rates threaten economic growth. Arthur Kroeber, founding partner of research consultancy Gavekal Dragonomics and author of China's Economy: What Everyone Needs to Know, joins Katia Dmitrieva in Washington for a discussion about the new trade era, China's economic travails and how the trade stalemate with the US could end.See omnystudio.com/listener for privacy information.
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29:01
Trump Tariffs Paused, But Economies Still on Edge
It's been a wild few weeks in trade and markets. After unleashing reciprocal tariffs on the world, US President Donald Trump then walked them back, pausing the additional levies for every nation except China. Some exemptions were also carved out, including for iPhones. Negotiations have since ramped up with countries including Vietnam, which hope to scale down or remove the threat of tariffs altogether. Asia is perhaps the hardest hit region, given the scope of tariffs on China and how dependent the region is on trade. Economic growth, company profits and labor markets will take a hit – even without the tariffs in place, uncertainty alone is curbing investment. But there is a longer-term silver lining: the protectionist policies have pushed officials to consider a world in which they rely less on the US and more on domestic growth drivers. HSBC chief Asia economist Frederic Neumann sits down with Katia Dmitrieva to discuss tariffs, the countries that may be hit hardest and what this new world of trade looks like.See omnystudio.com/listener for privacy information.
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34:00
Green Energy Boom Driven by Trade War Supply Shift
Global supply chains have reconfigured since the 2018-19 trade war, leading to a surge in renewable-energy demand in countries such as Vietnam, Indonesia and Malaysia as Nike and Samsung set up operations. This trend, coupled with population growth and the proliferation of AI-driven data centers, is projected to triple the demand for power in the next five years, according to Gavin Adda, CEO of Peak Energy. The subsidiary of Stonepeak, an infrastructure investment firm which manages more than $70 billion in assets, expects a big chunk of this energy demand will be met with renewable sources. Adda also sees Asian countries deregulating energy markets, opening up avenues for investments in solar and wind. He joins John Lee and Katia Dmitrieva on the Asia Centric podcast.See omnystudio.com/listener for privacy information.
Some of the world's largest and fastest-growing markets, economies and companies are in Asia. Every Thursday, John Lee from Bloomberg Intelligence and Katia Dmitrieva from Bloomberg News speak with experts and newsmakers about the big ideas and trends moving money across the region.
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