1
00:00:03,080 --> 00:00:09,959
Speaker 1: Bloomberg Audio Studios, podcasts, radio news. Last week, Donald Trump

2
00:00:10,160 --> 00:00:14,280
Speaker 1: was once again elected President of the United States, and every.

3
00:00:14,080 --> 00:00:17,880
Speaker 2: Sentien, I will fight for you, for your family, and

4
00:00:18,000 --> 00:00:21,560
Speaker 2: your future. Every single day, I will be fighting for

5
00:00:21,640 --> 00:00:22,640
Speaker 2: you and with you.

6
00:00:22,720 --> 00:00:26,120
Speaker 1: In his victory speech last week, President elect Donald Trump

7
00:00:26,280 --> 00:00:28,880
Speaker 1: talked big on what his second term in the White

8
00:00:28,880 --> 00:00:31,880
Speaker 1: House is going to look like, and leaders around the

9
00:00:31,880 --> 00:00:33,599
Speaker 1: world were listening carefully.

10
00:00:33,800 --> 00:00:38,960
Speaker 2: I will govern by a simple motto. Promises made, promises kept.

11
00:00:39,000 --> 00:00:40,440
Speaker 2: We're going to keep our promises.

12
00:00:42,560 --> 00:00:45,960
Speaker 1: Many of those promises take aim at Asia, home to

13
00:00:46,040 --> 00:00:49,519
Speaker 1: some of the world's biggest and most powerful economies, and

14
00:00:49,600 --> 00:00:53,280
Speaker 1: if Trump's first term in office is any indication, it's

15
00:00:53,320 --> 00:00:57,000
Speaker 1: no surprise that countries in Asia are bracing for a

16
00:00:57,040 --> 00:01:01,080
Speaker 1: bumpy ride ahead. In his first term as president, Trump

17
00:01:01,160 --> 00:01:04,479
Speaker 1: imposed a raft of tariffs on goods imported from China.

18
00:01:04,959 --> 00:01:07,360
Speaker 1: He met with Kim Jong un, the leader of North Korea,

19
00:01:07,800 --> 00:01:12,320
Speaker 1: and called the coronavirus the Chinese virus. But is Trump's

20
00:01:12,360 --> 00:01:15,679
Speaker 1: second term going to be as dramatic for Asian economies

21
00:01:15,760 --> 00:01:18,760
Speaker 1: as the first, and how are leaders in the region

22
00:01:18,880 --> 00:01:22,600
Speaker 1: preparing for what's to come. We'll dig into these questions

23
00:01:22,640 --> 00:01:28,120
Speaker 1: in a Roundtable discussion. Welcome to the Big Take Asia

24
00:01:28,200 --> 00:01:32,360
Speaker 1: from Bloomberg News. I'm Wanha today on the show Trump

25
00:01:32,800 --> 00:01:36,440
Speaker 1: Part two. What will his second term mean for China,

26
00:01:36,840 --> 00:01:40,840
Speaker 1: India and other Asian economies, and how countries are bracing

27
00:01:40,920 --> 00:01:44,479
Speaker 1: for a bumpy ride ahead from higher tariffs to potential

28
00:01:44,520 --> 00:01:45,960
Speaker 1: geopolitical flare ups.

29
00:01:46,160 --> 00:01:47,559
Speaker 2: Thank you very much. Wow.

30
00:01:59,640 --> 00:02:03,880
Speaker 1: Trump presidency and his economic plans will affect countries all

31
00:02:03,960 --> 00:02:07,400
Speaker 1: over the world, but one of the most impacted countries

32
00:02:07,440 --> 00:02:11,640
Speaker 1: will almost certainly be China, the world's second largest economy.

33
00:02:12,440 --> 00:02:16,520
Speaker 1: During Trump's first term, China was hammered with tariffs taxes

34
00:02:16,560 --> 00:02:19,519
Speaker 1: the Trump administration put on Chinese imports to the US

35
00:02:19,680 --> 00:02:24,359
Speaker 1: on everything from salad spinners to computer chips. Trump has

36
00:02:24,480 --> 00:02:27,840
Speaker 1: talked about tariffs a lot on the campaign trail, saying

37
00:02:28,040 --> 00:02:33,200
Speaker 1: taxing Chinese imports will help protect American manufacturers, farmers, and

38
00:02:33,400 --> 00:02:35,760
Speaker 1: entrepreneurs from lower priced competitors.

39
00:02:36,200 --> 00:02:38,919
Speaker 2: You're going to have protection from them coming in because

40
00:02:38,960 --> 00:02:42,359
Speaker 2: we're going to put on from fifty to two hundred

41
00:02:42,360 --> 00:02:43,320
Speaker 2: percent tariffs.

42
00:02:44,080 --> 00:02:46,960
Speaker 1: Trump began putting tariffs on more than three hundred and

43
00:02:46,960 --> 00:02:51,520
Speaker 1: sixty billion dollars of Chinese goods in twenty eighteen, but Now,

44
00:02:51,720 --> 00:02:54,840
Speaker 1: China's economy is in a much more fragile state than

45
00:02:54,880 --> 00:02:57,880
Speaker 1: it was back then. It's been struggling to recover from

46
00:02:57,960 --> 00:03:03,040
Speaker 1: major setbacks, from a property second crisis to paralyzing COVID lockdowns.

47
00:03:05,240 --> 00:03:08,400
Speaker 1: So I invited Daniel ten Kate, Bloomberg's executive editor for

48
00:03:08,480 --> 00:03:12,320
Speaker 1: Asia Economy and Government, to the studio. Dan, if you

49
00:03:12,320 --> 00:03:15,040
Speaker 1: were president Shi Jinping, you wake up the day after

50
00:03:15,040 --> 00:03:18,560
Speaker 1: the US election and you see that Trump's won, What's

51
00:03:18,639 --> 00:03:20,520
Speaker 1: the first thing that goes through your mind?

52
00:03:21,120 --> 00:03:25,520
Speaker 3: Here we go again. China prefers stability, and I think

53
00:03:25,639 --> 00:03:28,560
Speaker 3: for a lot of officials in Beijing that's the one

54
00:03:28,600 --> 00:03:33,600
Speaker 3: thing that they don't like about Trump unpredictability. With Biden,

55
00:03:33,720 --> 00:03:37,160
Speaker 3: they didn't necessarily like his policies, it wasn't great, but

56
00:03:37,240 --> 00:03:39,839
Speaker 3: it was at least stable. With Trump, that's all out

57
00:03:39,880 --> 00:03:40,360
Speaker 3: the window.

58
00:03:40,800 --> 00:03:44,880
Speaker 1: Well, Trump is full of surprises. He's also spoken highly

59
00:03:45,040 --> 00:03:47,760
Speaker 1: of she himself and has even called him a friend.

60
00:03:48,440 --> 00:03:51,040
Speaker 1: How might that relationship play out? Now?

61
00:03:51,400 --> 00:03:54,080
Speaker 3: You know, Trump likes to be friends with a lot

62
00:03:54,080 --> 00:03:57,200
Speaker 3: of leaders around the world, particularly leaders that are considered

63
00:03:57,240 --> 00:04:01,040
Speaker 3: strong manner, more authoritarian. Kim jungu was in that category.

64
00:04:01,160 --> 00:04:04,520
Speaker 3: Vladimir Putin was in that category. She's in Ping is

65
00:04:04,560 --> 00:04:08,920
Speaker 3: in that category. Trump talks glowingly about how this one

66
00:04:08,960 --> 00:04:13,120
Speaker 3: guy can control more than a billion people and expressing

67
00:04:13,160 --> 00:04:17,360
Speaker 3: admiration there. He has a respect for she in a way,

68
00:04:17,600 --> 00:04:20,000
Speaker 3: calling him a friend is a bit. He's a friend

69
00:04:20,120 --> 00:04:23,120
Speaker 3: when he needs something or he wants to use it

70
00:04:23,120 --> 00:04:25,360
Speaker 3: for his own benefit. And then, of course, if there's

71
00:04:25,400 --> 00:04:27,840
Speaker 3: something like COVID comes along, then he's happy to just

72
00:04:28,480 --> 00:04:29,440
Speaker 3: throw him under the bus.

73
00:04:29,680 --> 00:04:32,200
Speaker 1: Well. The first thing that China needs to navigate is

74
00:04:32,279 --> 00:04:36,240
Speaker 1: probably the prospect of more tariffs. Right Trump has threatened

75
00:04:36,279 --> 00:04:39,520
Speaker 1: to impose additional tariffs of sixty percent or more on

76
00:04:39,640 --> 00:04:43,640
Speaker 1: Chinese goods. If he does follow through. How badly would

77
00:04:43,640 --> 00:04:44,880
Speaker 1: that hurt China's economy.

78
00:04:45,440 --> 00:04:48,919
Speaker 3: There's varying estimates on the and certainly it would knock

79
00:04:49,360 --> 00:04:52,960
Speaker 3: at least a couple points off annual growth. China's got

80
00:04:52,960 --> 00:04:55,640
Speaker 3: a few things going for It has taken some steps

81
00:04:55,680 --> 00:05:01,400
Speaker 3: to insulate itself. It has diversified its export base since

82
00:05:01,440 --> 00:05:03,920
Speaker 3: Trump came to power, so it's not selling as many

83
00:05:03,960 --> 00:05:07,440
Speaker 3: goods to the US value wised as it did earlier.

84
00:05:07,960 --> 00:05:10,120
Speaker 3: So there's some people who think that it won't be.

85
00:05:11,040 --> 00:05:15,040
Speaker 1: That bad, And of course, raising tariffs on Chinese goods

86
00:05:15,080 --> 00:05:17,800
Speaker 1: also means prices are likely going to rise for American

87
00:05:17,839 --> 00:05:18,640
Speaker 1: consumers too.

88
00:05:18,839 --> 00:05:23,080
Speaker 3: Yeah, and that's where the Chinese policy makers are saying, like, Okay,

89
00:05:23,200 --> 00:05:26,160
Speaker 3: is he serious here, because if you did something like

90
00:05:26,200 --> 00:05:28,440
Speaker 3: that and not only the sixty percent tariff but also

91
00:05:28,480 --> 00:05:31,800
Speaker 3: the universal tariff of ten to twenty percent around the world,

92
00:05:31,920 --> 00:05:35,640
Speaker 3: that's ten to twenty percent at least, that everything's going

93
00:05:35,720 --> 00:05:38,800
Speaker 3: to cost more. And the question is, Okay, what does

94
00:05:38,839 --> 00:05:43,320
Speaker 3: Trump want this time around? That's a bit unclear, right now,

95
00:05:43,600 --> 00:05:44,159
Speaker 3: that's right.

96
00:05:44,480 --> 00:05:47,280
Speaker 1: And what about the question of you know, we'll China

97
00:05:47,480 --> 00:05:49,440
Speaker 1: fight back. I mean, we'll try to find a way

98
00:05:49,520 --> 00:05:52,000
Speaker 1: to get back at the US if it raises tariffs

99
00:05:52,000 --> 00:05:52,440
Speaker 1: that high.

100
00:05:52,720 --> 00:05:56,320
Speaker 3: Yeah. If you see, during the first trade war, China

101
00:05:56,440 --> 00:05:59,680
Speaker 3: was very reluctant to fight back in a way that

102
00:05:59,760 --> 00:06:04,279
Speaker 3: my blow back at them. They were very careful to

103
00:06:04,320 --> 00:06:06,880
Speaker 3: make sure that it didn't really hurt the overall investment

104
00:06:06,920 --> 00:06:10,080
Speaker 3: environment and everything else. China has since gotten a lot

105
00:06:10,120 --> 00:06:14,000
Speaker 3: more tools in its toolkit. They have an easier legal

106
00:06:14,120 --> 00:06:18,600
Speaker 3: process to go after particular companies, so certain American companies

107
00:06:18,640 --> 00:06:22,480
Speaker 3: that could be targets. There's also export controls that they have.

108
00:06:23,080 --> 00:06:26,560
Speaker 3: China still controls the trade of key critical minerals that

109
00:06:26,600 --> 00:06:30,039
Speaker 3: are used in advanced technology, so we could see China

110
00:06:30,279 --> 00:06:33,039
Speaker 3: do more on trying to fight fire with fire there,

111
00:06:33,480 --> 00:06:36,240
Speaker 3: But essentially everything China would do to fight back is

112
00:06:37,240 --> 00:06:39,880
Speaker 3: like when you're in a fight and someone tries to

113
00:06:40,000 --> 00:06:41,919
Speaker 3: decap you and you try to neecap them back, but

114
00:06:42,080 --> 00:06:45,000
Speaker 3: it basically hurts both sides. So they're trying to make

115
00:06:45,040 --> 00:06:47,360
Speaker 3: it so okay. We can show the US that if

116
00:06:47,360 --> 00:06:49,120
Speaker 3: you hit us here, we're also going to hit you there,

117
00:06:49,160 --> 00:06:53,239
Speaker 3: and then we're both going to suffer, and therefore let's

118
00:06:53,279 --> 00:06:55,279
Speaker 3: just not hit each other and find a way forward.

119
00:06:55,520 --> 00:06:57,279
Speaker 3: I think that's a preferred option for she.

120
00:06:58,320 --> 00:07:02,599
Speaker 1: Well, tension still is inevitable. There are questions whether we

121
00:07:02,600 --> 00:07:06,760
Speaker 1: would see conflicts between China and Taiwan under Trump administration.

122
00:07:07,440 --> 00:07:09,920
Speaker 1: Right the US said that China is on track to

123
00:07:09,960 --> 00:07:13,400
Speaker 1: be ready to invade Taiwan by twenty twenty seven. Trump

124
00:07:13,400 --> 00:07:17,440
Speaker 1: has said that Taiwan should pay for US protection. Should

125
00:07:17,440 --> 00:07:21,400
Speaker 1: we then expect to see a more emboldened China ahead.

126
00:07:21,240 --> 00:07:24,120
Speaker 3: I mean, I think China has a very clear policy,

127
00:07:24,160 --> 00:07:27,120
Speaker 3: which is we want to tighten the news around Taiwan,

128
00:07:27,240 --> 00:07:30,320
Speaker 3: and so I think they'll continue to do that on

129
00:07:30,400 --> 00:07:36,400
Speaker 3: the military side. If Trump were to lean toward encouraging

130
00:07:36,880 --> 00:07:40,560
Speaker 3: the current Taiwanese president lie in power, that would probably

131
00:07:41,000 --> 00:07:44,800
Speaker 3: encourage China to get tougher on Taiwan. That's just the

132
00:07:44,840 --> 00:07:47,840
Speaker 3: pattern that we've seen in the past. If Trump is

133
00:07:48,120 --> 00:07:51,800
Speaker 3: a little bit hostile towards Taiwan, then there wouldn't actually

134
00:07:51,800 --> 00:07:54,400
Speaker 3: be as much reason for China to do anything. So

135
00:07:54,680 --> 00:07:56,960
Speaker 3: it's a bit paradoxical in that sense.

136
00:07:57,440 --> 00:08:01,440
Speaker 1: Is there anything potentially good for China from Trump being

137
00:08:01,480 --> 00:08:02,280
Speaker 1: back in the White House?

138
00:08:02,720 --> 00:08:05,080
Speaker 3: Yeah, for China, you could cut a deal with Trump

139
00:08:05,160 --> 00:08:08,960
Speaker 3: that kind of breaks through a lot of the stalemate

140
00:08:09,080 --> 00:08:11,200
Speaker 3: in the spiral ling that we've seen in the US

141
00:08:11,280 --> 00:08:14,920
Speaker 3: China relationship. Trump sort of broke ties, but he can

142
00:08:14,960 --> 00:08:18,800
Speaker 3: also put them back again. And Trump doesn't mind flipping.

143
00:08:18,880 --> 00:08:22,240
Speaker 3: So for China that could potentially be a very good

144
00:08:22,280 --> 00:08:26,760
Speaker 3: thing in changing the way US China relations works for good.

145
00:08:26,920 --> 00:08:31,200
Speaker 3: So yeah, big downside, but also potentially a big upside

146
00:08:31,200 --> 00:08:31,960
Speaker 3: for China.

147
00:08:32,960 --> 00:08:37,120
Speaker 1: Trump's policies and economic plans will have a massive impact

148
00:08:37,240 --> 00:08:41,600
Speaker 1: throughout Asia, far beyond just China. After the break, we

149
00:08:41,640 --> 00:08:44,000
Speaker 1: look at some of the other Asian countries that can

150
00:08:44,080 --> 00:08:57,680
Speaker 1: expect big changes under our new Trump administration. Under a

151
00:08:57,760 --> 00:09:02,640
Speaker 1: second Trump administration, a more intense US China rivalry could

152
00:09:02,679 --> 00:09:07,320
Speaker 1: create pockets of opportunities and risks for other Asian nations.

153
00:09:08,160 --> 00:09:10,720
Speaker 1: To explore what it means on the ground here in Asia,

154
00:09:10,880 --> 00:09:14,760
Speaker 1: we spoke to two experts on the region's diplomacy and economics.

155
00:09:14,920 --> 00:09:20,000
Speaker 2: My name is Chan Hung Chi, and I'm an Ambassador

156
00:09:20,040 --> 00:09:23,800
Speaker 2: at Large in Singapore and a professor at the Singapore

157
00:09:23,920 --> 00:09:26,200
Speaker 2: University of Technology and Design.

158
00:09:26,679 --> 00:09:29,600
Speaker 4: My name is Aaron Murphy and I am currently the

159
00:09:29,760 --> 00:09:33,679
Speaker 4: Deputy Director and Senior Fellow for the Chair in India

160
00:09:33,720 --> 00:09:37,240
Speaker 4: and Emerging Asia Economics at the Center for Strategic and

161
00:09:37,280 --> 00:09:40,360
Speaker 4: International Studies. I'm based in Washington, d C.

162
00:09:41,280 --> 00:09:44,440
Speaker 1: Professor Chant, Let's start with you, are there any clear

163
00:09:44,520 --> 00:09:47,440
Speaker 1: winners or losers in Asia with Trump returning?

164
00:09:48,080 --> 00:09:53,160
Speaker 2: Asia has worked with a Trump administration before. We would

165
00:09:53,320 --> 00:09:57,720
Speaker 2: know that with President Trump's second administration we will have

166
00:09:57,880 --> 00:10:01,880
Speaker 2: higher towers, and I think we've ourselves with that. I

167
00:10:01,920 --> 00:10:06,760
Speaker 2: think the Trump administration has a very clear proposal. He

168
00:10:07,080 --> 00:10:10,800
Speaker 2: is for reversing the flows of trades so that the

169
00:10:10,920 --> 00:10:15,840
Speaker 2: US is not a clear loser, as he would say. Now,

170
00:10:15,920 --> 00:10:20,720
Speaker 2: other countries, of course, are very anxious, especially developing countries.

171
00:10:20,920 --> 00:10:23,160
Speaker 2: We would not like to see the model change, but

172
00:10:23,320 --> 00:10:26,960
Speaker 2: clearly it's got to be tweaked. The question is how

173
00:10:27,320 --> 00:10:31,760
Speaker 2: I think Our concern is that with tariffs, extreme tariffs

174
00:10:31,800 --> 00:10:36,360
Speaker 2: being imposed, it can create a contagious influence and you

175
00:10:36,440 --> 00:10:41,800
Speaker 2: have contagious protectionism. Big countries can be protectionists and it's fine.

176
00:10:42,120 --> 00:10:45,640
Speaker 2: The middle and small countries will really have to look around.

177
00:10:46,160 --> 00:10:50,920
Speaker 2: We have done many things. For instance, regions have formed

178
00:10:51,080 --> 00:10:58,720
Speaker 2: regional subgroupings of trade partners, diversified supply chain away from China.

179
00:10:59,480 --> 00:11:04,320
Speaker 2: Some of the trade and the investments in those two

180
00:11:04,360 --> 00:11:10,760
Speaker 2: areas have come into Southeast Asia, Vietnam, Thailand, Malaysia is

181
00:11:11,000 --> 00:11:14,200
Speaker 2: our winners. Many would say Southeast Asia is a clear

182
00:11:14,880 --> 00:11:19,440
Speaker 2: winner here, but I guess for how long and how much.

183
00:11:21,040 --> 00:11:23,800
Speaker 4: I think the professor makes a great point. But one

184
00:11:23,840 --> 00:11:27,160
Speaker 4: country that I think will also continue to win is

185
00:11:27,240 --> 00:11:30,320
Speaker 4: probably India. I think part of that is the strong

186
00:11:30,400 --> 00:11:34,800
Speaker 4: relationship and the personal relationship between Mody and Trump. Mody

187
00:11:34,880 --> 00:11:37,240
Speaker 4: was one of the first to congratulate Trump on his win.

188
00:11:37,720 --> 00:11:41,000
Speaker 4: So I think India will continue to win and continue

189
00:11:41,000 --> 00:11:43,000
Speaker 4: to be in the good graces of the United States.

190
00:11:43,520 --> 00:11:47,520
Speaker 1: So Prime Minister Narendra Modi and Trump clearly share close

191
00:11:47,600 --> 00:11:49,920
Speaker 1: ties and certainly a lot of parallels have been drawn

192
00:11:49,960 --> 00:11:53,160
Speaker 1: between the two leaders. Does this all bode well for

193
00:11:53,280 --> 00:11:55,920
Speaker 1: India with Trump back in the White House or are

194
00:11:55,920 --> 00:11:57,760
Speaker 1: there also some points of contention.

195
00:11:57,880 --> 00:12:00,800
Speaker 4: Where things might get challenging. Is that Money has his

196
00:12:00,920 --> 00:12:05,680
Speaker 4: own made in India policy that could run into Made

197
00:12:05,720 --> 00:12:08,640
Speaker 4: in America policies as well, so that will certainly have

198
00:12:08,679 --> 00:12:11,280
Speaker 4: to be ironed out. There's certainly things that they can

199
00:12:11,320 --> 00:12:14,680
Speaker 4: agree on, including diversifying the supply chains, trying to decouple

200
00:12:14,720 --> 00:12:17,559
Speaker 4: from China, and if there's anything that Trump would appreciate

201
00:12:17,679 --> 00:12:19,680
Speaker 4: is that it's India's stance on China.

202
00:12:20,080 --> 00:12:22,800
Speaker 1: So looking forward, what do you think will be different

203
00:12:22,920 --> 00:12:25,080
Speaker 1: about these next four years with Trump?

204
00:12:25,360 --> 00:12:28,520
Speaker 2: I think we should expect the unexpected. I think that's

205
00:12:28,840 --> 00:12:32,000
Speaker 2: simplest way of saying this, and we should not be

206
00:12:32,080 --> 00:12:36,520
Speaker 2: surprised to see extremes of action. What he does with

207
00:12:36,720 --> 00:12:42,000
Speaker 2: China is something everybody is I think, waiting to see

208
00:12:42,480 --> 00:12:45,640
Speaker 2: where that leads. I do not know, but I would

209
00:12:45,720 --> 00:12:48,480
Speaker 2: say that in my part of the world, Southeast Asia,

210
00:12:48,760 --> 00:12:52,560
Speaker 2: we're really watching that relationship because what happens to the

211
00:12:52,720 --> 00:12:57,000
Speaker 2: US China relationship were really impact set the toll for

212
00:12:57,600 --> 00:12:59,559
Speaker 2: relationships in the region.

213
00:13:00,280 --> 00:13:02,080
Speaker 1: And is there a sense that we're going to see

214
00:13:02,120 --> 00:13:04,560
Speaker 1: a more fractured world for the next four years.

215
00:13:04,840 --> 00:13:07,840
Speaker 2: We are nervous of how the world would turn out.

216
00:13:08,600 --> 00:13:13,480
Speaker 2: Could be more fractured, it's certainly going to be more

217
00:13:13,960 --> 00:13:18,840
Speaker 2: noisy and with everyone guessing the direction. We have been

218
00:13:18,920 --> 00:13:23,880
Speaker 2: used to a certain predictability, but with Trump administration is

219
00:13:24,000 --> 00:13:29,040
Speaker 2: less predictable, but that is also his advantage in dealing

220
00:13:29,160 --> 00:13:30,400
Speaker 2: with other countries.

221
00:13:31,320 --> 00:13:33,920
Speaker 4: I agree that we're getting into a more fractured world,

222
00:13:34,000 --> 00:13:36,880
Speaker 4: but we're also in a period of transition which makes

223
00:13:36,920 --> 00:13:42,840
Speaker 4: everything a lot more chaotic and noisy. And already the

224
00:13:42,960 --> 00:13:46,560
Speaker 4: post World War two, the so called rules based order,

225
00:13:46,600 --> 00:13:51,640
Speaker 4: which created the World Bank, the International Monetary Fund, the

226
00:13:51,679 --> 00:13:55,240
Speaker 4: World Trade Organization. These systems that were to promote growth

227
00:13:55,360 --> 00:13:59,040
Speaker 4: and prevent world wars are kind of creaking under the

228
00:13:59,120 --> 00:14:03,480
Speaker 4: expansion of economies. But we're also going through another industrial

229
00:14:03,520 --> 00:14:08,040
Speaker 4: revolution with critical technologies and emerging tech AI quantum computing,

230
00:14:08,720 --> 00:14:10,880
Speaker 4: and that's going to have a huge effect on labor.

231
00:14:11,320 --> 00:14:15,440
Speaker 4: And then you add to this the unpredictability, the crisis

232
00:14:15,480 --> 00:14:18,480
Speaker 4: in the Middle East, the Ukraine, war and it just

233
00:14:18,559 --> 00:14:21,880
Speaker 4: makes everything very nerve racking. Again. It's not very fun

234
00:14:21,920 --> 00:14:24,960
Speaker 4: to live in unprecedented times. But here we are, and

235
00:14:25,280 --> 00:14:26,960
Speaker 4: you know, there we go.

236
00:14:35,640 --> 00:14:39,120
Speaker 1: This is The Big Take Asia from Bloomberg News. I'm wanha.

237
00:14:39,600 --> 00:14:42,080
Speaker 1: If you'd like to hear more about Bloomberg's coverage on

238
00:14:42,120 --> 00:14:45,160
Speaker 1: the economic impact of Trump's return to the White House,

239
00:14:45,480 --> 00:14:48,600
Speaker 1: check out the conversation on our Big Take Feed. This

240
00:14:48,760 --> 00:14:51,960
Speaker 1: episode was produced by Young Young Jessica Beck and Naomi

241
00:14:52,040 --> 00:14:55,080
Speaker 1: mum It was mixed by Alex Sugira and fact checked

242
00:14:55,080 --> 00:14:58,720
Speaker 1: by Adriana Tapia. It was edited by Stacy Vaneck Smith

243
00:14:59,360 --> 00:15:03,920
Speaker 1: and words Name. Miss Shaven is our senior producer, Elizabeth

244
00:15:03,960 --> 00:15:07,440
Speaker 1: Anso is our senior editor, Nicole Beemster Bower is our

245
00:15:07,480 --> 00:15:11,440
Speaker 1: executive producer, and Sage Bauman is Boomberg's head of Podcasts.

246
00:15:11,800 --> 00:15:14,560
Speaker 1: Please follow and review The Big Tick Asia wherever you

247
00:15:14,680 --> 00:15:17,800
Speaker 1: listen to podcasts. It really helps new listeners find the show.

248
00:15:18,280 --> 00:15:19,040
Speaker 1: See you next time.