Financial crisis of many Asian countries during the second half of 1997
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Comment on this episode by going to KDramaChat.comToday, we'll be discussing Episode 13 of When Life Gives You Tangerines, the hit K Drama on Netflix starring IU as Oh Ae-sun and Park Bo-gum as Yang Gwan-sik as young adults, then Moon So-ri as Oh Ae-sun and Park Hae-joon as Yang Gwan-sik as older adults. We discuss:The songs featured during the recap: “Twenty Years of One Side Love” by Yoon Hyun Kyum and “Third Time's the Charm” by Judah Earl.How this episode captures the parallel dynamics of Geum Myeong's marriage to Chung Seob and her evolving relationship with her father, Gwan Sik.The episode's powerful themes of generational sacrifice, as each generation sacrifices to make things better for their children.The poignant wedding scene, where Yeong Beom watches Geum Myeong from afar; he finally sees Geum Myeong in a wedding dress!The doljanchi (first birthday celebration) of Je Il and the cultural significance of Korean rice cakes and the doljabi ritual.The confrontation between Eun Myeong and his father, revealing resentment and dreams for a different future.Ae Sun's reminder that even “Steelheart” Gwan Sik can be wounded, showing vulnerability with age.The 1997 Asian Financial Crisis and its sweeping impact on Korea that included layoffs, company bankruptcies, and high unemployment.The bittersweet, missed connection at the Cannes Theater between Geum Myeong and Chung Seob, eventually followed by their emotional reunion on the bus!The symbolism of inyeon, fate, and timing in Geum Myeong and Chung Seob's relationship.Cultural details around drinking etiquette in Korea and “Asian flush syndrome.” Gwan Sik's testing of Chung Seob, both at sea and over dinner, and the significance of Chung Seob's quiet acts of love winning over the protective father.The grassroots Gold Collection Campaign in Korea during the IMF crisis and its surprising parallels to U.S. wartime efforts.The wedding of Geum Myeong and Chung Seob, Gwan Sik's heartache in letting go, and the episode's title, “Such An Uneven Love,” as a tribute to the father-daughter bond.The actor, Kim Seon Ho, who plays Chung Seob. We love this actor!ReferencesDoljanchi - WikipediaDoljabi: Unveiling the Cultural Significance of Korean Celebrations.Jin Chan - Wikipedia)1997 Asian financial crisis - Wikipedia.South Korea and the International Monetary Fund - WikipediaPast Lives: This untranslatable Korean word for eternal love has ancient Buddhist rootsDrinking culture of Korea - Wikipedia.Miracle by Kim Seon HoFalling Slowly by Kim Seon Ho
The Dollar Standard, Global Liquidity, and the Coming Economic Reckoning In my expansive and highly accessible conversation with renowned economist Richard Duncan, we discuss the logic behind his long-running critique of the international monetary system, a system Richard calls the Dollar Standard where he explains why current U.S. policy moves, the system could come crashing down. The Origins of the Dollar Standard and America's “Exorbitant Privilege” The Dollar Standard, Duncan explains, evolved out of the collapse of the Bretton Woods system (implemented after WWII) in 1971. Under Bretton Woods, currencies were pegged to the U.S. dollar, and the dollar was pegged to gold. But when other countries accumulated more dollars than the U.S. had gold, President Nixon suspended dollar convertibility, effectively ending the gold standard. What replaced it was a floating currency regime and the birth of the Dollar Standard. Crucially, the U.S. began running persistent trade deficits, importing goods and sending dollars abroad. These dollars, in turn, were recycled by foreign central banks, especially in trade surplus countries like China and Japan, into U.S. dollar-denominated assets, primarily Treasuries, but also equities and real estate. This loop, Duncan argues, created America's “exorbitant privilege”: the ability to fund government spending and consumer imports at artificially low interest rates, because foreign buyers are constantly reinvesting in U.S. debt and assets. The phrase "exorbitant privilege" was first coined by Valéry Giscard d'Estaing, who later became President of France, but at the time was serving as France's Minister of Finance under President Charles de Gaulle in the 1960s. He used the term to criticize the unique advantages enjoyed by the United States under the Bretton Woods system, particularly the ability to run persistent deficits by issuing debt in its own currency (the U.S. dollar), while foreign nations had to hold and use those dollars to trade and build reserves. Giscard and de Gaulle saw this as an unfair financial hegemony that allowed the U.S. to “live beyond its means” at the expense of others. The phrase was intended as a critique but, ironically, it's now often used in a neutral or even admiring tone by economists. How Global Credit Became a Bubble Machine Duncan makes the case that this system, while benefiting the U.S. enormously, has been fundamentally destabilizing for the rest of the world. As surplus countries absorb dollar inflows, their central banks convert them into local currency, often by printing their own money. That liquidity ends up in domestic banking systems, fueling excessive credit growth, asset bubbles, and financial crises. It happened in Japan in the late 1980s. It triggered the Asian Financial Crisis in the late 1990s. And it helped fuel China's real estate boom and the global credit bubble that preceded the 2008 collapse. Notably, Duncan predicted the 2008 financial crisis in his 2003 book, The Dollar Crisis, warning that runaway global imbalances would eventually lead to a systemic shock. He now argues that post-2008 bailouts and quantitative easing (QE) only expanded the bubble rather than fixing the problem. Trump's Trade Doctrine: Potential to Destabilize the System Fast forward to 2025: Trump is back in office, and his administration is moving quickly to reshape global trade. Duncan's concern is that the Trump administration's effort to eliminate the U.S. trade deficit by imposing high tariffs and pursuing a strategic devaluation of the dollar, undermines the very structure that has sustained U.S. prosperity and global financial stability for decades. Why? Because every U.S. trade deficit is matched by a capital inflow. It's a balance-of-payments identity: if the U.S. runs a $1.1 trillion current account deficit, there must be a $1.1 trillion capital surplus (i.e., inflows) to finance it. Take that away and you choke off the supply of global liquidity that props up asset prices worldwide. The Doom Loop: What Happens If Capital Stops Flowing In Duncan walks through the scenario: If tariffs succeed in shrinking the trade deficit, dollars stop flowing abroad. Without those dollars, foreign central banks have fewer reserves to recycle into U.S. assets. This reduces demand for Treasuries, pushing interest rates up. Rising rates crush real estate, stocks, and credit-dependent sectors. Simultaneously, trade-surplus economies face a liquidity crunch, leading to job losses, bankruptcies, and potential financial crises. The result? A global depression triggered not by market excess this time, but by deliberate government policy. Duncan notes that the Trump administration has already blinked once in rolling back tariffs on China after markets began to seize. But the damage to global confidence in the dollar's stability and America's reliability as a trading partner may already be done. CRE-Specific Risks For CRE professionals, Duncan's framework suggests several key risks: Interest Rate Volatility: If capital inflows decline, Treasury demand will fall and rates may rise, increasing financing costs and repricing assets downward. Foreign Capital Flight: A weakening dollar and escalating trade tensions could lead to foreign divestment from U.S. real estate, especially in coastal gateway cities where foreign investors are dominant. Liquidity Shock: Reduced global liquidity may tighten credit markets, making debt financing harder to access for new acquisitions or refis. Wealth Effect Reversal: Falling stock prices and higher rates could curb consumer spending and investor confidence, affecting retail, hospitality, and housing-linked CRE. Is There a Way Out? Despite the dire tone, Duncan offers a constructive alternative. In his more recent book, The Money Revolution, he advocates using the U.S. government's borrowing capacity, enabled by dollar dominance and low rates, to invest aggressively in future-focused industries: AI, biotech, quantum computing, green energy. In short: inflate productively, not destructively. Use fiat-financed public investment to grow out of the debt bubble, rather than letting it implode through austerity or protectionism. But he acknowledges that political will may be lacking and that, without it, the only other option will be another round of massive QE when the next crisis hits. Final Thought Duncan's message is clear: we are not playing by gold standard rules anymore. The U.S. economy, and the world's, runs on confidence, liquidity, and the flow of capital. Disrupt that system and we may find ourselves testing whether the Fed and Treasury can reflate the bubble one more time. *** You may not agree with Richard's perspective but, as a real estate investor, understanding differing points of view helps in underwriting investment risk by incorporating possible downsides into exit strategies. This is a fascinating and accessible discussion. Tune in if you want to understand the real risks underpinning your real estate investment decisions in the coming months. *** In this series, I cut through the noise to examine how shifting macroeconomic forces and rising geopolitical risk are reshaping real estate investing. With insights from economists, academics, and seasoned professionals, this show helps investors respond to market uncertainty with clarity, discipline, and a focus on downside protection. Subscribe to my free newsletter for timely updates, insights, and tools to help you navigate today's volatile real estate landscape. You'll get: Straight talk on what happens when confidence meets correction - no hype, no spin, no fluff. Real implications of macro trends for investors and sponsors with actionable guidance. Insights from real estate professionals who've been through it all before. Visit GowerCrowd.com/subscribe Email: adam@gowercrowd.com Call: 213-761-1000
US stocks slide on fears Trump will announce car tariffs tonight. UK inflation falls unexpectedly. Australia's inflation rate slips as Budget rebates are set to keep repressing headline CPI. And Indonesia's currency is the lowest it's been since the Asian Financial Crisis of 1997. In our bonus deep dive interview, ANZ Commodity Strategist Soni Kumari tracks the fortunes of silver following record-setting price moves for gold. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/
Kia ora,Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news the gold price is approaching US$3000/oz again after hitting a new record high earlier today. The equity markets are falling again. Benchmark bond yields are in risk-aversion mode but corporate debt yields are rising.But first, US initial jobless claims were little-changed last week from the prior week, slipping slightly on seasonal factors. There are now 2.163 mln people on these benefits, +4.0% more than at this time last year.American producer prices were up +3.2% in February from a year ago, slightly less than expected (+3.3%) and a notable fall from January (+3.7%). But January was an outlier. The average in 2024 was +2.5%.This updated chart of the price of eggs in the US is interesting. They are now up +100% in one year, up +42% in 2025 alone. US egg prices are rising faster than gold.There was a US Treasury 30 year bond tendered overnight and to slightly less demand. It resulted in a median yield of 4.56%, which was less that the 4.68% at the prior equivalent event a month ago.Meanwhile, US yields for sub-investment grade corporate bonds ("Junk bonds") have jumped in the past week or so on recession fears and tariff uncertainty. Today there were more tariff threats from Trump who can't seem to understand why others would retaliate.North of the border, riled up Canadians are now proposing to toll US trucks that go through B.C. to service Alaska. But this won't hurt Alaska much as most of their freight arrives by sea. However they seem to want to make a point by withdrawing a long-standing concession. Elsewhere, supply-chain and retailers are noticing significant anti-US consumer demand shifts.And staying in Canada, their residential building consent levels slipped in January, pretty much as expected after the surge in December. But they remain an impressive +29% higher than a year ago, largely due to multi-unit construction.Across the Pacific, Beijing has quietly moved to inject public funds worth ¥500 bln (NZ$120 bln) into ailing state-owned banks. It is a similar rescue to the 1998 Asian Financial Crisis when they injected the ¥270 bln for the same reason - wavering SOE bank health.Chinese warships may have been circling Australia for geopolitical warning reasons. Or they may have had other objectives as well. Yesterday the official work report from the Chinese National Congress was released, and it includes a mention (page 17) of it now being a "key task for 2025" to develop "deep-sea science and technology", which is a new item added this year. It's a reach of course, but we may be seeing more Chinese vessels on our presumably valuable continental shelf. If we don't want them there we will have to develop the ability to keep them away.Global container freight rates fell another -7% last week to be their lowest since January 2024 but still +67% higher than pre-pandemic levels. Bulk cargo rates rose sharply last week, up +27% for the week to be a third lower rthan this time last year.The UST 10yr yield is now at 4.27%, down -3 bps from yesterday at this time. Wall Street is falling again, down -1.4% on the S&P500. The price of gold will start today at just on US$2980/oz and up another +US$48 from yesterday. And that is a new all-time high. In intra-day trading it hasn't yet quite touched US$3000, but close, and probably soon.Oil prices are down -US$1 at just over US$66.50/bbl in the US and the international Brent price is at just under US$70/bbl.The Kiwi dollar is now at 57.1 USc and down -20 bps from yesterday. Against the Aussie however we are unchanged at 90.8 AUc. Against the euro we are still at 52.5 euro cents. That all means our TWI-5 starts today just under 66.4, and down -10 bps from yesterday.The bitcoin price started today at US$80,780 and down -1.7% from this time yesterday. Volatility over the past 24 hours has again been moderate at +/- 2.1%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again on Monday.
China unveils plan to encourage insurance funds into stock markets; Indonesian Rupiah near Asian Financial Crisis low; Ley Choon surges 15% as investors positive on construction upturn. Synopsis: Market Focus Daily is a closing bell roundup by The Business Times that looks at the day’s market movements and news from Singapore and the region. Written and hosted by: Emily Liu (emilyliu@sph.com.sg) Recording engineer: Chai Pei Chieh Produced and edited by: Claressa Monteiro Produced by: BT Podcasts, The Business Times, SPH Media --- Follow Market Focus Daily and rate us on: Channel: bt.sg/btmktfocus Amazon: bt.sg/mfam Apple Podcasts: bt.sg/mfap Spotify: bt.sg/mfsp YouTube Music: bt.sg/mfyt Website: bt.sg/mktfocus Feedback to: btpodcasts@sph.com.sg Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice. Discover more BT podcast series: BT Money Hacks at: bt.sg/btmoneyhacks BT Correspondents at: bt.sg/btcobt BT Podcasts at: bt.sg/podcasts BT Branded Podcasts at: bt.sg/brpod BT Lens On: bt.sg/btlensonSee omnystudio.com/listener for privacy information.
Kia ora,Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news of an unexpected development in South Korea.But first, dairy prices edged up slightly again in this morning's latest full dairy auction, but that doesn't really tell the story of this event properly. With the local milk production season now past its peak, lesser volumes were on offer. And buyers seem to have already stocked up for Christmas and Chinese New Year. So it will be no surprise to know that most commodities slipped in price today - apart from a +4.1% surge in the WMP price. Almost alone, this twisted the overall index to a +1.2% rise in USD terms, and a +1.6% rise in NZD termsIn the US last week there was something of a surge in retail sales with the benchmark Redbook index rising 7.4% from the same week a year ago. Buying before Trump's tariff-tax seems to be becoming a thing. Black Friday was in both weeks, this year and last year.Also rising more than expected were US job openings in the US. Their JOLTS report seems to show that October data ends a longish easing in the rising in hiring. It also shows that employees are less afraid to quit to find another job.And more optimism is found in the RealClear Markets/TIPP survey for November.And the US logistics industry seems to be settling into a positive phase with another good expansion in November.Across the Pacific, we should not a rather stunning development in South Korea, our fourth largest trading partner. Martial law has been declared by their embattled President. It seems the 'anti-state forces' he is battling are internal ones in labour unions. Even members of his own party are opposing the declaration. Apparently his wife is a key influencer in this decision. His move looks very uncertain at this time, and legislators have voted against the move.The South Korean currency, the Won, fell hard, back near GFC and Asian Financial Crisis levels.In China, State media is talking up the rise in real estate sales transactions, both by households in some cities, and by developers.And later today in Paris, French legislators will vote on whether to topple the Barnier government.And later today, the Aussie will release their Q3-2024 GDP result - which is expected to show a +1.1% expansion from the same quarter a year ago. That would be about the lowest since the pandemic.The UST 10yr yield is now at just on 4.20%, up +2 bps from yesterday.The price of gold will start today at US$2650/oz and up +US$10 from this time yesterday.Oil prices are +US$2 higher at US$70/bbl in the US while the international Brent price is +US$1.50 higher at just over US$73.50/bbl.The Kiwi dollar starts today at 58.8 USc and unchanged from this time yesterday. Against the Aussie we down -20 bps at 90.8 AUc. Against the euro we have dipped -10 bps to 55.9 euro cents. That all means our TWI-5 starts today at just on 68.3, and down -10 bps from yesterday.The bitcoin price starts today at US$95,045 and down -1.4% from this time yesterday. Volatility over the past 24 hours has remained modest at +/- 1.5%.You can find links to the articles mentioned today in our show notes.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.
Show Notes: Raymond Lei Yin moved to New York after graduating and has worked at Goldman Sachs for over 20 years, primarily in Hong Kong and Shanghai, China. He worked in China with a private fund for three and a half years and for UBS Asset Management as the Head of Asia Pacific and Head of China for the past 6 years. Now retired from UBS Asset Management, Raymond is currently traveling around the world, visiting his parents and enjoying the outdoors. He is also looking for opportunities to get involved with communities, businesses or organizations where he can contribute his expertise. Capital Markets War Stories Raymond shares many war stories from his time in Hong Kong, China, and the capital markets during the financial crisis. He started at Goldman Sachs in New York and eventually moved to Asia. He was a program analyst in 1992 and supported the international trading desk at Goldman. This experience was interesting, as the traders he worked with at the time were hires from Salomon Brothers and Credit Suisse First Boston (CSFB). He likens this time to working in a jungle where his goal was to survive each day. Raymond's journey has been filled with challenges and opportunities, but he is now focused on pursuing his passion for learning (especially in AI) and helping other businesses to grow. Working in Equity Capital MarketsRaymond began his career in Hong Kong after realizing that the core part of Goldman's business was financial advisory and trading. He decided to look for a job outside Goldman and was about to resign when he was offered a position by a senior MD looking for a Chinese speaking analyst based in Hong Kong. He flew to London for interviews and was hired to work in equity capital markets, which he knew little about. Equity capital markets is an interesting area that straddles between investment banking and equity sales and trading. Raymond was trained by Eric Dobkin, the man who introduced the concept of the Equity Capital Markets (ECM), which orchestrated IPOs and worked with both issuers and investors to set the price. During the Red Chip Boom in 1993, there was a huge demand for Chinese speaking bankers in Hong Kong, as there were not many Chinese bankers at that time. As the first full-time equity capital markets person based in Hong Kong, Raymond worked tirelessly to keep up with the pace of IPOs. Lesson Learned from the MarketOne lesson that Raymond learned during this time was that the market can be irrational. During the Red Chip Boom, Chinese IPOs were richly valued, due to scarcity of Chinese papers and the high demand for Chinese investments. However, since then, the market has seen several cycles of price fluctuations. To make money in the equity market, he believes that one must be a contrarian, have a long sustained power, and be liquid. In the early 90s, Hong Kong had an open market with many foreign capitals and traditional institutions representing their firms in London or New York. Goldman helped Chinese companies raise money in international capital markets through IPOs, global deposit receipts (GDRs), and convertible bonds (CBs). The Chinese government was involved in these deals, as they were selling their best assets to global investors in exchange for professional management and market discipline. The first deal was with Tsingtao Breweries, a famous beer company, and later with Shanghai Petrochemical and China Mobile and PetroChina. These companies were majority-held by the Chinese government, and Goldman had an edge in winning these deals. Goldman also worked on Korean companies like POSCO Steel and Samsung Electronics, as well as Thai and Indonesian companies. The Asian Financial Crisis The Asian financial crisis occurred in 1997, when the devaluation of the Thai Bhat and Indonesian Rupiah led to a massive attack in Hong Kong markets. For a few days, the entire HK equity market was dominated by one buyer, the Hong Kong government. Raymond saw the government's bid for 100 million shares of Hong Kong telecom got hit within 2 seconds. This could mark the end of capital markets in Hong Kong, as the government was buying the significant part of HK equity market. However, in hindsight this was the single best time to buy Hong Kong equities, as the Hong Kong government made a lot of money that day. In subsequent years, Goldman helped the Hong Kong government sell these stocks at a profit, returning the market to private investors. One company Raymond worked with was PetroChina where Goldman took the company public and Raymond helped to introduce the team management to global investors. It was during the dotcom bubble era, there was ver little investor appetite for oil stocks. Eventually, the IPO was done as a discount valuation. Investors who bought at PetroChina IPO all made money if they hold on to their shares. From Goldman to Private Funds to UBS Asset ManagementRaymond's next move was to the buy side - a China based private fund. He spent three and a half years traveling between Shanghai and Hong Kong to help them set up their international operation, hire people, lease office space, get the Type 9 license, and set up their Hong Kong office. He later joined UBS Asset Management first as Head of China then later as Head of Asia Pacific. He worked at UBS Asset Management for the past 6 years. Influential Harvard Professors and CoursesRaymond shares that his Art History course at Harvard was one of the most useful, as it allowed him to appreciate artwork and visit museums worldwide. He also enjoyed the core course Cultural Revolution taught by Professor Roderick MacFarquar, which was not offered in China. Timestamps: 04:15: Early Career at Goldman Sachs 09:51: Experience in Hong Kong and Equity Capital Markets 14:46: The Asian Financial Crisis and Market Lessons 26:31: Building Sales and Trading Operations in China 28:44: Transition to the Buy Side and Final Steps at Goldman 31:11: Personal Life and Interests 38:19: Reflections on Harvard and Career Advice Links: LinkedIn: https://www.linkedin.com/in/raymond-yin-cfa-613a017a/ Email: yinraymond@yahood.com Featured Non-profit: This week's featured non-profit is Alex's Lemonade Stand, recommended by Catherine Marcus Rose who reports: Hi. I'm Catherine Marcus Rose, class of 1992 the featured nonprofit of this episode of The 92 report is Alex's Lemonade Stand, foundation for Children's Cancer. Alex's Lemonade Stand focuses on impacting lives of children with cancer through fundraising for critical research and awareness raising support for families and children with cancer. I love the work of this organization and have been a regular donor for a few years. When our youngest son, age 21 was diagnosed with Ewing sarcoma last December, this organization became even more important to us. Only four cents of every dollar spent on cancer research at the NCI goes to research in pediatric cancers. So the work of this organization has taken on extra meaning for us. You can learn more about their work at Alex's lemonade.org, a l e x, s, L E, M o, n, a, de.org and now here is Will Bachman with this week's episode. To learn more about their work visit: https://www.alexslemonade.org/
Empires will be taking a short break, but we'll be back in 2025 with even more exciting stories. We appreciate your support and can't wait to share what's next. See you in the new year! - From a local Indonesian business, the Lippo Group has evolved into one of Southeast Asia's most influential conglomerates. With ventures spanning across real estate, retail, healthcare, banking, and digital technology, the presence of the Indonesian powerhouse can be seen not just locally, but across the region. Today, the Lippo Group's assets stretch across various industries and countries, from Singapore to Hong Kong and beyond, reflecting its transformation into a multifaceted, globally connected empire. This is the story of the Lippo Group—driven by two generations of the Riady family—they would navigate Indonesia's worst monetary crisis, survive a thousand-fold currency devaluation, and emerge from the Asian Financial Crisis as one of the nation's largest conglomerates and real estate giants. Episode 1: Bikes and Ships Discover how Mochtar Riady's humble beginnings and early ventures in shipping and trade laid the foundation for the Lippo Group. Episode 2: Building Banks Mochtar Riady enters the world of finance, taking over and reforming failing banks, setting the stage for his rise as a prominent banker in Indonesia. Episode 3: The Benefactor A chance meeting with business tycoon Sudono Salim leads to the transformation of Bank Central Asia into Indonesia's second clearing bank. Episode 4: Lippo the Group After years in banking, the Riadys expand their reach beyond finance, transforming Lippo into a diverse conglomerate with interests in various industries across Indonesia. Episode 5: Real Estate and Healthcare As Lippo Group evolves, its focus sharpens on real estate and healthcare, building a legacy through massive developments and premium hospital chains that redefine Indonesia's business landscape. - Want to showcase your brand to listeners with a combined net worth of over $1 billion and a network of 100,000+ employees and industry contacts? Drop us an email: sales@1upmediapodcast.com - We're looking to grow our team! Support our productions by buying us a coffee or subscribing to binge all series releases. - Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
From a local Indonesian business, the Lippo Group has evolved into one of Southeast Asia's most influential conglomerates. With ventures spanning across real estate, retail, healthcare, banking, and digital technology, the presence of the Indonesian powerhouse can be seen not just locally, but across the region. Today, the Lippo Group's assets stretch across various industries and countries, from Singapore to Hong Kong and beyond, reflecting its transformation into a multifaceted, globally connected empire. This is the story of the Lippo Group—driven by two generations of the Riady family—they would navigate Indonesia's worst monetary crisis, survive a thousand-fold currency devaluation, and emerge from the Asian Financial Crisis as one of the nation's largest conglomerates and real estate giants. Episode 1: Bikes and Ships Discover how Mochtar Riady's humble beginnings and early ventures in shipping and trade laid the foundation for the Lippo Group. Episode 2: Building Banks Mochtar Riady enters the world of finance, taking over and reforming failing banks, setting the stage for his rise as a prominent banker in Indonesia. Episode 3: The Benefactor A chance meeting with business tycoon Sudono Salim leads to the transformation of Bank Central Asia into Indonesia's second clearing bank. Episode 4: Lippo the Group After years in banking, the Riadys expand their reach beyond finance, transforming Lippo into a diverse conglomerate with interests in various industries across Indonesia. Episode 5: Real Estate and Healthcare As Lippo Group evolves, its focus sharpens on real estate and healthcare, building a legacy through massive developments and premium hospital chains that redefine Indonesia's business landscape. - Want to showcase your brand to listeners with a combined net worth of over $1 billion and a network of 100,000+ employees and industry contacts? Drop us an email: sales@1upmediapodcast.com - We're looking to grow our team! Support our productions by buying us a coffee or subscribing to binge all series releases. - Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
From a local Indonesian business, the Lippo Group has evolved into one of Southeast Asia's most influential conglomerates. With ventures spanning across real estate, retail, healthcare, banking, and digital technology, the presence of the Indonesian powerhouse can be seen not just locally, but across the region. Today, the Lippo Group's assets stretch across various industries and countries, from Singapore to Hong Kong and beyond, reflecting its transformation into a multifaceted, globally connected empire. This is the story of the Lippo Group—driven by two generations of the Riady family—they would navigate Indonesia's worst monetary crisis, survive a thousand-fold currency devaluation, and emerge from the Asian Financial Crisis as one of the nation's largest conglomerates and real estate giants. Episode 1: Bikes and Ships Discover how Mochtar Riady's humble beginnings and early ventures in shipping and trade laid the foundation for the Lippo Group. Episode 2: Building Banks Mochtar Riady enters the world of finance, taking over and reforming failing banks, setting the stage for his rise as a prominent banker in Indonesia. Episode 3: The Benefactor A chance meeting with business tycoon Sudono Salim leads to the transformation of Bank Central Asia into Indonesia's second clearing bank. Episode 4: Lippo the Group After years in banking, the Riadys expand their reach beyond finance, transforming Lippo into a diverse conglomerate with interests in various industries across Indonesia. Episode 5: Real Estate and Healthcare As Lippo Group evolves, its focus sharpens on real estate and healthcare, building a legacy through massive developments and premium hospital chains that redefine Indonesia's business landscape. - Want to showcase your brand to listeners with a combined net worth of over $1 billion and a network of 100,000+ employees and industry contacts? Drop us an email: sales@1upmediapodcast.com - We're looking to grow our team! Support our productions by buying us a coffee or subscribing to binge all series releases. - Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
From a local Indonesian business, the Lippo Group has evolved into one of Southeast Asia's most influential conglomerates. With ventures spanning across real estate, retail, healthcare, banking, and digital technology, the presence of the Indonesian powerhouse can be seen not just locally, but across the region. Today, the Lippo Group's assets stretch across various industries and countries, from Singapore to Hong Kong and beyond, reflecting its transformation into a multifaceted, globally connected empire. This is the story of the Lippo Group—driven by two generations of the Riady family—they would navigate Indonesia's worst monetary crisis, survive a thousand-fold currency devaluation, and emerge from the Asian Financial Crisis as one of the nation's largest conglomerates and real estate giants. Episode 1: Bikes and Ships Discover how Mochtar Riady's humble beginnings and early ventures in shipping and trade laid the foundation for the Lippo Group. Episode 2: Building Banks Mochtar Riady enters the world of finance, taking over and reforming failing banks, setting the stage for his rise as a prominent banker in Indonesia. Episode 3: The Benefactor A chance meeting with business tycoon Sudono Salim leads to the transformation of Bank Central Asia into Indonesia's second clearing bank. Episode 4: Lippo the GroupAfter years in banking, the Riadys expand their reach beyond finance, transforming Lippo into a diverse conglomerate with interests in various industries across Indonesia. Episode 5: Real Estate and HealthcareAs Lippo Group evolves, its focus sharpens on real estate and healthcare, building a legacy through massive developments and premium hospital chains that redefine Indonesia's business landscape. - Want to showcase your brand to listeners with a combined net worth of over $1 billion and a network of 100,000+ employees and industry contacts? Drop us an email: sales@1upmediapodcast.com - We're looking to grow our team! Support our productions by buying us a coffee or subscribing to binge all series releases. - Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
From a local Indonesian business, the Lippo Group has evolved into one of Southeast Asia's most influential conglomerates. With ventures spanning across real estate, retail, healthcare, banking, and digital technology, the presence of the Indonesian powerhouse can be seen not just locally, but across the region. Today, the Lippo Group's assets stretch across various industries and countries, from Singapore to Hong Kong and beyond, reflecting its transformation into a multifaceted, globally connected empire. This is the story of the Lippo Group—driven by two generations of the Riady family—they would navigate Indonesia's worst monetary crisis, survive a thousand-fold currency devaluation, and emerge from the Asian Financial Crisis as one of the nation's largest conglomerates and real estate giants. Episode 1: Discover how Mochtar Riady's humble beginnings and early ventures in shipping and trade laid the foundation for the Lippo Group. Episode 2: Mochtar Riady enters the world of finance, taking over and reforming failing banks, setting the stage for his rise as a prominent banker in Indonesia. Episode 3: A chance meeting with business tycoon Sudono Salim leads to the transformation of Bank Central Asia into Indonesia's second clearing bank. Episode 4: Mochtar Riady establishes Lippo Bank amidst Indonesia's evolving financial scene, only to face the daunting challenges of the Asian Financial Crisis. Episode 5: Emerging stronger from crisis, the Riady family transforms Lippo Bank into a conglomerate that spans multiple industries across Southeast Asia. - Want to showcase your brand to listeners with a combined net worth of over $1 billion and a network of 100,000+ employees and industry contacts? Drop us an email: sales@1upmediapodcast.com - We're looking to grow our team! Support our productions by buying us a coffee or subscribing to binge all series releases. - Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
What are some of the most important reforms or initiatives needed to achieve the vision outlined in "India@100"? How does the book address potential criticisms of its growth projections and policy recommendations? For the latest episode of SparX, Krishnamurthy Subramanian, renowned economist and author, joins us to discuss his latest book 'India@100'. Explore the vision and strategies for India's economic growth. From ancient economic texts to modern-day reforms, Subramanian offers unique insights into India's growth potential. Tune in to discover the roadmap for India's journey to becoming a $55 trillion economy by 2047. Discover the insights and expertise that can shape India's future. Resource List - The Infrastructure Leasing & Financial Services Ltd (IL&FS) Crisis - https://www.edu91.org/blog/everything-you-need-to-know-about-the-il-fs-fiasco#:~:text=IL&FS%2D%20You%20all%20might%20have,it%20involved%209900%20crore%20rupees. To Know More About the Economic Survey - https://www.indiabudget.gov.in/economicsurvey/ What is a V shaped Recovery? - https://www.nextias.com/ca/current-affairs/30-12-2022/v-shaped-recovery#:~:text=In%20a%20V%2Dshaped%20recovery,the%20economic%20growth%20recovers%20sharply. To Know More About the Global Financial Crisis - https://www.britannica.com/money/financial-crisis-of-2007-2008 To Know More About the Asian Financial Crisis - https://www.investopedia.com/terms/a/asian-financial-crisis.asp#:~:text=The%20Asian%20financial%20crisis%20started,region%20falling%E2%80%94some%20quite%20catastrophically. What is the Golden Quadrilateral? - https://en.wikipedia.org/wiki/Golden_Quadrilateral What is the Pradhan Mantri Gram Sadak Yojana? - https://omms.nic.in/ To Know More About the 1973 Oil Crisis - https://en.wikipedia.org/wiki/1973_oil_crisis What is a Black Swan Event? - https://www.britannica.com/topic/black-swan-event What is Thalinomics? - https://www.indiabudget.gov.in/budget2020-21/economicsurvey/doc/vol1chapter/echap11_Vol1.pdf What is the Rule of 72? - https://www.investopedia.com/terms/r/ruleof72.asp About SparX by Mukesh Bansal SparX is a podcast where we delve into cutting-edge scientific research, stories from impact-makers and tools for unlocking the secrets to human potential and growth. We believe that entrepreneurship, fitness and the science of productivity is at the forefront of the India Story; the country is at the cusp of greatness and at SparX, we wish to make these tools accessible for every generation of Indians to be able to make the most of the opportunities around us. In a new episode every Sunday, our host Mukesh Bansal (Founder Myntra and Cult.fit) will talk to guests from all walks of life and also break down everything he's learnt about the science of impact over the course of his 20-year long career. This is the India Century, and we're enthusiastic to start this journey with you. Follow us on our Instagram: / sparxbymukeshbansal Also check out our website: https://www.sparxbymukeshbansal.com You can also listen to SparX on all audio platforms! Fasion | Outbreak | Courtesy EpidemicSound.com
#RafiFarber - Silver Doubled During the Last Asian Financial Crisis The Yen weakens again past 157 per dollar, only three weeks after the Bank of Japan's intervention at 160. Rumors of another Asian financial crisis on the wings are circulating, and do you know what doubled during the last one in 1997? That would be silver. So far, it looks like the SilverSqueeze top at $30.32 may hold, turning strong resistance into strong support, and giving us a firm base to climb to $50. And a word on George Gammon's trip to the land of silver, Argentina, and what it says about the future 15:1 gold to silver ratio. To find out more, click to watch the video now! - Take advantage of this week's specials from Miles Franklin Precious Metals! -Half Ounce Silver Canadian Polar Bears (great for barter) for $2.50 over melt value -One ounce gold Krugerrands for only $49 over spot To get yours now email Miles Franklin at Arcadia@Miles Franklin.com Or call 833-326-4653 - To join our free email list and never miss a video click here: https://arcadiaeconomics.com/email-signup/ - To get on the waiting list for your very own ´Silver Chopper Ben´ sterling silver figurine click here: https://arcadiaeconomics.com/get-a-chopper-ben/ - To get your paperback or audio copy of The Big Silver Short go to: https://arcadiaeconomics.com/thebigsilvershort/ Find Arcadia Economics content on these sites: YouTube - https://www.youtube.com/user/ArcadiaEconomics Rumble - https://rumble.com/c/ArcadiaEconomics Bitchute - https://www.bitchute.com/channel/kgpeiwO1dhxX/ LBRY/Odysee - https://odysee.com/@ArcadiaEconomics:5 Listen to Arcadia Economics on your favorite Podcast platforms: Spotify - https://open.spotify.com/show/75OH2PpgUpriBA5mYf5kyY Apple - https://podcasts.apple.com/us/podcast/arcadia-economics/id1505398976 Google-https://podcasts.google.com/feed/aHR0cHM6Ly9teXNvdW5kd2lzZS5jb20vcnNzLzE2MTg5NTk1MjMzNDVz Anchor - https://anchor.fm/arcadiaeconomics Amazon - https://podcasters.amazon.com/podcasts Follow Arcadia Economics on these social platforms Twitter - https://twitter.com/ArcadiaEconomic Instagram - https://www.instagram.com/arcadiaeconomics/ #silver #silverprice And remember to get outside and have some fun every once in a while!:) (URL0VD) We do receive compensation from Miles Franklin from orders placed through our show. For our full disclaimer go to: https://arcadiaeconomics.com/disclaimer-miles-franklin-precious-metals/Subscribe to Arcadia Economics on Soundwise
Helen Wong, Managing Partner of AC Ventures, and Jeremy Au talked about three main themes: 1. AC Ventures Managing Partner Leadership Journey: Helen shared her extensive journey from Oxford University to investment banking to GGV Capital to INSEAD MBA to Qiming Ventures to Managing Partner of AC Ventures. She highlighted her 20 years of investing experience across the booming Silicon Valley tech ecosystem to the early rapidly growing China tech scene of the early 2000s. The Asian Financial Crisis with Asia corporate over-leveraging debt and Alan Greenspan's interest rate hikes reshaped her understanding of risk and investment. She shared insights on investing in 4 unicorns, 3 M&A exits and 7 IPOs, e.g. Alibaba's growth from 1,000 to thousands of employees 2. China VC Acceleration: Helen discussed the early days of China's tech ecosystem, where returnees and local entrepreneurs started to build unicorns across the internet boom and the mobile internet era, despite the nascent talent pool and then-lack of exit opportunities. She noted the intense competition, global liquidity pools, rapid pace of deal-making, and the strategic focus shifts from consumer internet to deep tech and enterprise software due to government policies and market saturation. 3. Indonesia Growth Optimism: Helen highlighted the significant growth potential in Southeast Asia, particularly in Indonesia, which she identified as a critical market due to its large 275 million population, rising middle class, and economic resilience. She drew parallels between the region's current tech landscape and China's early days, noting the opportunities for substantial returns. She also discussed Indonesia's favorable economic fundamentals, with Goldman Sachs projecting the country's GDP to rank fourth globally by 2050, and the public and private debt levels being relatively low at about 40% of GDP, which indicates a healthier balance sheet compared to more leveraged economies. Jeremy and Helen also talked about the challenges of balancing career and family, strategic investments like Akulaku, reflections on missed investments, and her advice to her younger self. Watch, listen or read the full insight at https://www.bravesea.com/blog/helen-wong Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/helen-wong-id 观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/helen-wong-cn Get transcripts, startup resources & community discussions at www.bravesea.com WhatsApp: https://chat.whatsapp.com/CeL3ywi7yOWFd8HTo6yzde TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremya LinkedIn: https://www.linkedin.com/company/bravesea English: Spotify | YouTube | Apple Podcasts Join us at the startup conference Echelon X! We have 30 exclusive complimentary tickets for our podcast listeners. Sign up and use the promo codes BRAVEPOD or ECXJEREMY to claim your free tickets now!
The Afternoon Update producer Sean Cheong and independent economist Song Seng Wun discuss the state of the Malaysian ringgit. Is the situation similar to that of the 1998 Asian Financial Crisis, and can it recover soon? See omnystudio.com/listener for privacy information.
At its peak, Indonesia's Salim Group was a $22 billion giant - the country's biggest business group. Its founder and top boss Liem Sioe Liong - also called Sudono Salim - was Southeast Asia's richest man. Salim Group's incredible rise came on the back of the company's personal connection to the authoritarian leader Suharto. A personal friend of Liem, the dictator leaned on the company as one of its core collaborators. Few companies dominated a single country like Salim's companies did Indonesia until the Asian Financial Crisis. This is its story.
At its peak, Indonesia's Salim Group was a $22 billion giant - the country's biggest business group. Its founder and top boss Liem Sioe Liong - also called Sudono Salim - was Southeast Asia's richest man. Salim Group's incredible rise came on the back of the company's personal connection to the authoritarian leader Suharto. A personal friend of Liem, the dictator leaned on the company as one of its core collaborators. Few companies dominated a single country like Salim's companies did Indonesia until the Asian Financial Crisis. This is its story.
Jason Edwards, CEO & Founder of Alternatives.pe, and Jeremy Au talked about three main themes: 1. Lawyer to Founder & VC: Jason recounted his legal career at Baker & McKenzie in Australia and Hong Kong. Due to the Asian Financial Crisis, he focused on financial restructuring for distressed firms (many of whom had borrowed heavily in US dollars) across Bangkok, Singapore and Asia. He later moved into private equity with Clearwater Capital Partners ($1.2B AUM) and venture capital by co-founding Qualgro VC. He later founded alternatives.pe - an accurate data and insights platform for private capital market professionals looking for best-in-class coverage across Southeast Asia and Australia. The platform is now used by the majority of Asian funds including Square Peg, 500, Temasek, Sequoia, Tiger Global, Warburg Pincus, KKR, Vertex, GIC and Softbank. 2. Alternatives.pe Regional Capital Insights: Jason discussed the current shift of VC attention from consumer-focused (B2C) to business-focused (B2B) models, due to a faster route to profitability across diverse linguistic and cultural markets. He observed strengthening investment discipline focused on capital efficiency and strategic scalability. Jason also elaborated on the complex dynamics of negotiation and asset recovery in the region. He pointed out that Asian businesses usually hold most of their value intrinsically, which complicates asset recovery efforts when entrepreneurs have been at the helm for extensive periods, sometimes spanning decades or generations. He emphasized that a successful recovery strategy involves not just enforcing rights as per the norm in Western jurisdictions, but also cooperating with the original business operators to maximize value extraction. This nuanced approach highlights the importance of balancing 'stick' enforcement strategies with engagement and collaboration, underscoring that aggressive takeover tactics are seldom the best route to preserving or enhancing a business's value in Asia. 3. January Capital Venture Debt Strategy: Jason explained the rationale and timing for launching January Capital's venture debt services to fill the regional market gap. He detailed the methodical structure of their venture debt deals, typically around $15 million, targeted at growth-stage companies that find traditional venture capital or equity financing too dilutive or misaligned with their financial strategies. He elaborated on how this approach is particularly opportune given the current high-interest rate environment and lower valuations, which would allow venture debt to provide capital without excessive equity sacrifices. Jeremy and Jason also talked about his personal experience of the Asian Financial Crisis and ensuing layoffs, the importance of accurate and timely data for VC dealmaking, and personal reflections on entrepreneurial risk-taking. Watch, listen or read the full insight at https://www.bravesea.com/blog/jason-edwards Nonton, dengar atau baca wawasan lengkapnya di https://www.bravesea.com/blog/jason-edwards-in 观看、收听或阅读全文，请访问 https://www.bravesea.com/blog/jason-edwards-cn Get transcripts, startup resources & community discussions at www.bravesea.com WhatsApp: https://chat.whatsapp.com/CeL3ywi7yOWFd8HTo6yzde TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter: https://twitter.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea English: Spotify | YouTube | Apple Podcasts Learn more about Grain here: https://www.grain.com.sg
Asian currencies have been roiled by an unexpectedly stronger US Dollar this year, but we do not equate this to the Asian Financial Crisis of 1997. Most Asian countries are better positioned than before to weather currency volatility and temporary higher oil prices, due to stronger fundamentals and more flexible exchange rates. However, the effect of a weaker Renminbi could last longer as economic growth slows and given China is the biggest trading partner for most countries in Asia and Australia except India. We stay away from local rates except Singapore Dollar due to the deep local investor base and keep our call for Asian Investment Grade USD bonds due to strong technicals.This episode is presented by Magdalene Teo, Head of Fixed Income Research Asia at Julius Baer.
Finally, you can easily access Bitcoin in a low-cost ETF with the VanEck Bitcoin Trust (HODL). Visit https://vaneck.com/HODLFG to learn more. VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/hodlprospectus/ __ Russell Napier, founder of Orlock Advisors and publisher of The Solid Ground Newsletter, returns to Forward Guidance to share how China's decision to peg its currency the Chinese Yuan in 1994 at an artificially low rate had enormous consequences on world's monetary system, and why China may be soon be forced to make a monetary policy decision regarding its currency which may have similarly large consequences for the globe. Filmed on March 13, 2024. Russell is the author of two books, “Anatomy of a Bear Market: Lessons from Wall Street's four great bottoms” and “The Asian Financial Crisis 1995-1998 And The Birth Of The Age of Debt.” __ Russell Napier's newsletter, The Solid Ground: https://russellnapier.co.uk/ Russell's first book, “Anatomy of a Bear Market: Lessons from Wall Street's four great bottoms”: https://www.amazon.com/Anatomy-Bear-Lessons-Streets-bottoms/dp/0857195220/?_encoding=UTF8&pd_rd_w=JKHqA&content-id=amzn1.sym.cf86ec3a-68a6-43e9-8115-04171136930a&pf_rd_p=cf86ec3a-68a6-43e9-8115-04171136930a&pf_rd_r=144-7804338-9176020&pd_rd_wg=QZHz8&pd_rd_r=bb8adee9-1ab7-4906-bfc2-cf8c13a39d25&ref_=aufs_ap_sc_dsk Russell Napier's second book, “The Asian Financial Crisis 1995-1998 And The Birth Of The Age of Debt”: https://www.amazon.com/Asian-Financial-Crisis-1995-98-Birth/dp/0857199145/?_encoding=UTF8&pd_rd_w=JKHqA&content-id=amzn1.sym.cf86ec3a-68a6-43e9-8115-04171136930a&pf_rd_p=cf86ec3a-68a6-43e9-8115-04171136930a&pf_rd_r=144-7804338-9176020&pd_rd_wg=QZHz8&pd_rd_r=bb8adee9-1ab7-4906-bfc2-cf8c13a39d25&ref_=aufs_ap_sc_dsk Follow VanEck on Twitter https://twitter.com/vaneck_us Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Timestamps: (00:00) Introduction (00:52) How To Spot A Change In Monetary Policy (03:50) Birth Of The Age Of Debt (08:43) Chinese Surpluses Are Getting Smaller (14:10) China's Choice Between Deflation Or Devaluation (18:23) China's Growth Requires Massive Expansion In Narrow Money (27:10) VanEck Ad (27:53) Is China The Biggest Real Estate Bubble Ever? (30:35) PBOC Likely To Move To Flexible Exchange Rate In Order To Achieve Their Goals In Controlling Price And Quantity of Money (33:53) Is Foreign Lending Contingent Upon U.S. Dollar Reserves? (36:29) The Origin of The Chinese Stock Market In 1992 (39:11) Valuations of China's Stock Market (41:33) Buy Cheap Currencies, Not Cheap Companies (54:11) Napier's Views On Japanese Currency And Stock Market (58:51) The Lessons Of Quantitative Easing (QE) (01:01:27) The Future of Japanese Monetary Policy (01:03:10) The Interest Rate Shock Has Not Broken Something. Why? Will This Continue? (01:06:16) Are Higher Interest Rates Deflationary Or Inflationary? __ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
Want to know how a lawyer became a successful hotelier with 40 hotels & 9 Michelin-starred restaurants in Singapore, London, Ireland, Shanghai & Sydney?!Look no further than today's STIMY guest: Loh Lik Peng, the founder of Unlisted Collection.Lik Peng grew up expecting to be a doctor, like his parents. But ended up practising as a commercial litigator for 3 years.During that time, the world was hit with the Asian Financial Crisis and a rundown property called Hotel 1929 came onto the Singapore property market.Hotel 1929 was located in Singapore's red light district and Lik Peng saw potential in it, so he took a year off from law to develop the hotel with the full intention of going back to being a lawyer thereafter. But life didn't turn out that way.He ended up opening his first restaurant at Hotel 1929, then another hotel and restaurant, and another and…In fact, he bought so many properties in the area that his friend once remarked that the street should be renamed “Peng Road”!
Charoen Pokphand, or C.P., is renowned as the "Kitchen of the World." It is estimated that half the world's population has consumed food from C.P. Initially recognized for its expertise in vertical food integration, the company has evolved into one of Thailand's largest distributors. It owns 13,000 7-Eleven stores and nearly 3,000 hypermarkets, supermarkets, and minimarkets under the "Lotus" brand. Additionally, it owns True Corp, a telecommunications company providing 99% coverage in Thailand and serving over half of the nation's citizens. However, C.P. is not just a Thai company, but also deeply embedded in China. As the first foreign company in China, bearing the number 001, C.P. has diversified into producing motorbikes, developing real estate, and even producing China's longest-running TV program at one point. All business units fall under the C.P. Group, owned by Thailand's wealthiest family, the Chearavanonts. Under Dhanin (Guomin) Chearavanont's leadership, C.P. transformed from a modest seed business to the world's kitchen. In EP 1, discover Chia Ek Chor's vision that propels the Chearavanont family towards greatness. In EP 2, witness Dhanin's climb to lead C.P. Group, a monumental journey. In EP 3, explore C.P.'s groundbreaking move into vertical farming, reshaping global food production. In EP 4, follow C.P.'s bold entry into China, setting a precedent as the first foreign investor. In EP 5, observe the dramatic effects of the Asian Financial Crisis on C.P.'s ambitious expansion. - We're looking to grow our team! Help support our productions here :') Buy Me a Coffee - Want to discover more origins, rise & fall on Asian business empires? Follow us on our Tiktok where we share 5 minute breakdowns of some of the most interesting Asian businesses. Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
Charoen Pokphand, or C.P., is renowned as the "Kitchen of the World." It is estimated that half the world's population has consumed food from C.P. Initially recognized for its expertise in vertical food integration, the company has evolved into one of Thailand's largest distributors. It owns 13,000 7-Eleven stores and nearly 3,000 hypermarkets, supermarkets, and minimarkets under the "Lotus" brand. Additionally, it owns True Corp, a telecommunications company providing 99% coverage in Thailand and serving over half of the nation's citizens. However, C.P. is not just a Thai company, but also deeply embedded in China. As the first foreign company in China, bearing the number 001, C.P. has diversified into producing motorbikes, developing real estate, and even producing China's longest-running TV program at one point. All business units fall under the C.P. Group, owned by Thailand's wealthiest family, the Chearavanonts. Under Dhanin (Guomin) Chearavanont's leadership, C.P. transformed from a modest seed business to the world's kitchen. In EP 1, discover Chia Ek Chor's vision that propels the Chearavanont family towards greatness. In EP 2, witness Dhanin's climb to lead C.P. Group, a monumental journey. In EP 3, explore C.P.'s groundbreaking move into vertical farming, reshaping global food production. In EP 4, follow C.P.'s bold entry into China, setting a precedent as the first foreign investor. In EP 5, observe the dramatic effects of the Asian Financial Crisis on C.P.'s ambitious expansion. - We're looking to grow our team! Help support our productions here :') Buy Me a Coffee - Want to discover more origins, rise & fall on Asian business empires? Follow us on our Tiktok where we share 5 minute breakdowns of some of the most interesting Asian businesses. Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
Charoen Pokphand, or C.P., is renowned as the "Kitchen of the World." It is estimated that half the world's population has consumed food from C.P. Initially recognized for its expertise in vertical food integration, the company has evolved into one of Thailand's largest distributors. It owns 13,000 7-Eleven stores and nearly 3,000 hypermarkets, supermarkets, and minimarkets under the "Lotus" brand. Additionally, it owns True Corp, a telecommunications company providing 99% coverage in Thailand and serving over half of the nation's citizens. However, C.P. is not just a Thai company, but also deeply embedded in China. As the first foreign company in China, bearing the number 001, C.P. has diversified into producing motorbikes, developing real estate, and even producing China's longest-running TV program at one point. All business units fall under the C.P. Group, owned by Thailand's wealthiest family, the Chearavanonts. Under Dhanin (Guomin) Chearavanont's leadership, C.P. transformed from a modest seed business to the world's kitchen. In EP 1, discover Chia Ek Chor's vision that propels the Chearavanont family towards greatness. In EP 2, witness Dhanin's climb to lead C.P. Group, a monumental journey. In EP 3, explore C.P.'s groundbreaking move into vertical farming, reshaping global food production. In EP 4, follow C.P.'s bold entry into China, setting a precedent as the first foreign investor. In EP 5, observe the dramatic effects of the Asian Financial Crisis on C.P.'s ambitious expansion. - We're looking to grow our team! Help support our productions here :') Buy Me a Coffee - Want to discover more origins, rise & fall on Asian business empires? Follow us on our Tiktok where we share 5 minute breakdowns of some of the most interesting Asian businesses. Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
The Ringgit has been on a downward trend against the US Dollar since the Asian Financial Crisis. Julia Goh, senior economist at UOB Malaysia gives her views on what measures should be adopted to see an appreciation of the currency.Wealth Advice That Matters is brought to you by UOB Privilege Banking. Visit www.uob.com.my/bfm to find out more about upcoming topics.
Charoen Pokphand, or C.P., is renowned as the "Kitchen of the World." It is estimated that half the world's population has consumed food from C.P. Initially recognized for its expertise in vertical food integration, the company has evolved into one of Thailand's largest distributors. It owns 13,000 7-Eleven stores and nearly 3,000 hypermarkets, supermarkets, and minimarkets under the "Lotus" brand. Additionally, it owns True Corp, a telecommunications company providing 99% coverage in Thailand and serving over half of the nation's citizens. However, C.P. is not just a Thai company, but also deeply embedded in China. As the first foreign company in China, bearing the number 001, C.P. has diversified into producing motorbikes, developing real estate, and even producing China's longest-running TV program at one point. All business units fall under the C.P. Group, owned by Thailand's wealthiest family, the Chearavanonts. Under Dhanin (Guomin) Chearavanont's leadership, C.P. transformed from a modest seed business to the world's kitchen. In EP 1, discover Chia Ek Chor's vision that propels the Chearavanont family towards greatness. In EP 2, witness Dhanin's climb to lead C.P. Group, a monumental journey. In EP 3, explore C.P.'s groundbreaking move into vertical farming, reshaping global food production. In EP 4, follow C.P.'s bold entry into China, setting a precedent as the first foreign investor. In EP 5, observe the dramatic effects of the Asian Financial Crisis on C.P.'s ambitious expansion. - We're looking to grow our team! Help support our productions here :') Buy Me a Coffee - Want to discover more origins, rise & fall on Asian business empires? Follow us on our Tiktok where we share 5 minute breakdowns of some of the most interesting Asian businesses. Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
Charoen Pokphand, or C.P., is renowned as the "Kitchen of the World." It is estimated that half the world's population has consumed food from C.P. Initially recognized for its expertise in vertical food integration, the company has evolved into one of Thailand's largest distributors. It owns 13,000 7-Eleven stores and nearly 3,000 hypermarkets, supermarkets, and minimarkets under the "Lotus" brand. Additionally, it owns True Corp, a telecommunications company providing 99% coverage in Thailand and serving over half of the nation's citizens. However, C.P. is not just a Thai company, but also deeply embedded in China. As the first foreign company in China, bearing the number 001, C.P. has diversified into producing motorbikes, developing real estate, and even producing China's longest-running TV program at one point. All business units fall under the C.P. Group, owned by Thailand's wealthiest family, the Chearavanonts. Under Dhanin (Guomin) Chearavanont's leadership, C.P. transformed from a modest seed business to the world's kitchen. In EP 1, discover Chia Ek Chor's vision that propels the Chearavanont family towards greatness. In EP 2, witness Dhanin's climb to lead C.P. Group, a monumental journey. In EP 3, explore C.P.'s groundbreaking move into vertical farming, reshaping global food production. In EP 4, follow C.P.'s bold entry into China, setting a precedent as the first foreign investor. In EP 5, observe the dramatic effects of the Asian Financial Crisis on C.P.'s ambitious expansion. - We're looking to grow our team! Help support our productions here :') Buy Me a Coffee - Want to discover more origins, rise & fall on Asian business empires? Follow us on our Tiktok where we share 5 minute breakdowns of some of the most interesting Asian businesses. Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
Charoen Pokphand, or C.P., is renowned as the "Kitchen of the World." It is estimated that half the world's population has consumed food from C.P. Initially recognized for its expertise in vertical food integration, the company has evolved into one of Thailand's largest distributors. It owns 13,000 7-Eleven stores and nearly 3,000 hypermarkets, supermarkets, and minimarkets under the "Lotus" brand. Additionally, it owns True Corp, a telecommunications company providing 99% coverage in Thailand and serving over half of the nation's citizens. However, C.P. is not just a Thai company, but also deeply embedded in China. As the first foreign company in China, bearing the number 001, C.P. has diversified into producing motorbikes, developing real estate, and even producing China's longest-running TV program at one point. All business units fall under the C.P. Group, owned by Thailand's wealthiest family, the Chearavanonts. Under Dhanin (Guomin) Chearavanont's leadership, C.P. transformed from a modest seed business to the world's kitchen. In EP 1, discover Chia Ek Chor's vision that propels the Chearavanont family towards greatness. In EP 2, witness Dhanin's climb to lead C.P. Group, a monumental journey. In EP 3, explore C.P.'s groundbreaking move into vertical farming, reshaping global food production. In EP 4, follow C.P.'s bold entry into China, setting a precedent as the first foreign investor. In EP 5, observe the dramatic effects of the Asian Financial Crisis on C.P.'s ambitious expansion. - We're looking to grow our team! Help support our productions here :') Buy Me a Coffee - Want to discover more origins, rise & fall on Asian business empires? Follow us on our Tiktok where we share 5 minute breakdowns of some of the most interesting Asian businesses. Want to meet the team? Follow me here! - If you love the style of Empires, and want similar content, check out:
The Asian Financial Crisis of the late 1990s prompted Malaysia to implement a series of reforms aimed at fortifying its financial institutions. One of the most prominent measures taken was the consolidation of the banking sector, leading to a reduction in the number of domestic commercial banks from 22 to just 10 by the year 2002. While the goal was to create stability and strength within the financial industry, it introduced a new set of challenges, particularly for the country's SMEs. The pivotal question that arises is: After more than 2 decades, how has this banking consolidation impacted the ability of SMEs in Malaysia to secure capital? On this episode of #ConsiderThis Melisa Idris speaks to Professor Woo Wing Thye, Vice-President for Asia at the United Nations Sustainable Development Solutions Network. He also heads the ASIA headquarters of SDSN, hosted by the Jeffrey Cheah Foundation at Sunway University, where he is a research professor.
Today, we'll be discussing Episode 16 of 25, 21, the hit K Drama on Netflix starring Kim Tae-ri as Na Hee-do and Nam Joo-hyuk as Baek Yi-jin. Ernabel Demillo is back as our special guest! She was a reporter and news anchor in New York, AND a reporter in New York during 9/11. This is a long episode, so we hope you stick with us and enjoy this long discussion. We promise some laugh-out-loud moments! We discuss:The beautiful songs we hear in this episode: Starlight by O Dong Jun and New Beginnings by Jin Myoung YongBaek Yi-jin's applying for, and accepting, the correspondent job in New York. What was his motivation for going to New York and staying?Ernabel's experience during 9/11. She was trapped in Italy at first. When she got back to New York, it was chaos and Ernabel and her co-workers worked really long days.The crushingly sad scenes between Na Hee-do and Baek Yi-jin: outside Na Hee-do's house after the luggage mix-up, at the cell phone store, at the tunnel, and then at the bus stop.How Na Hee-do and Baek Yi-jin had numerous opportunities to get back together, but they just could not bridge the gap between them; they just could not understand each other.How the creators of K Dramas often give us clues to the show's ending early in the show. For example, in Episode 2, we learn that Baek Yi-jin is not able to share his sadness and despair; Na Hee-do tells Baek Yi-jin that when they're together, they should always be happy; Baek Yi-jin tells his father's creditors that he would never be happy again.How Ko Yu-rim and Moon Ji-woong stay strong, despite Ko Yu-rim living in Russia. We cheer when Moon Ji-woong proposes to Ko Yu-rim.Ernie's perspective on being a reporter and news anchor. How reporters are super heroes because they are often running toward danger.When Baek Yi-jin asks, “Did I screw this up?” we say YES!The amazing friendship between Na Hee-do and Ko Yu-rim, how being each other's rival was the proudest moment of their careers.How Baek Yi-jin is selected by Shin Jae-kyung to be the news anchor for UBS because he represented youth and innovation.How Na Hee-do and Baek Yi-jin contributed to each other's success. Despite their sad breakup, they each are now living pretty good lives.How Na Hee-do's diary has been so central in Na Hee-do's life and how, in the end, it reconnected Na Hee-do and Baek Yi-jin, and Na Hee-do and Min-chae.We speculate about what Na Hee-do would have done after receiving the diary after all these years. Would she call Baek Yi-jin, or do nothing?How Na Hee-do and Baek Yi-jin, through the diary, got to say what they really meant to say to each other at the tunnel that day.The show that we will recap and analyze in Season 5 of K Drama Chat.ReferencesThings you should know about dating in Korea25, 21 Alternate Ending
Today, we'll be discussing Episode 5 of 25, 21, the hit K Drama on Netflix starring Kim Tae-ri as Na Hee-do and Nam Joo Hyuk as Baek Yi-jin. We discuss:The songs we heard during the recap: Their Friendship by Yoo Jong Hyun and Will by Byon Dong Wook.Ko Yu-rim's decision to switch her nationality and fence for Russia because of her family's financial troubles.Coach Yang's efforts to secure the best deal for Ko Yu-rim and how devoted she is to Na Hee-do and Ko Yu-rim.How Sung Hee blames Baek Yi-jin for not managing the distance between himself and his friends. Now that he's broken the story of Ko Yu-rim's move to Russian, he is deeply unhappy and regretful.How the two most important people in Na Hee-do's life, her mom and Baek Yi-jin, have hurt the third most important person in her life, Ko Yu-rim.We wonder if it would have made a difference if Baek Yi-jin had NOT been the first to break the story; what if he were second or third?How Na Hee-do and Baek Yi-ji as a couple are so different from Ko Yu-rim and Moon Ji-woong.Sung Hee's research into the drinking games that the friends played at the restaurant.The K Drama elements we saw in this episode: crying, food, alcohol, holding hands.The shows we are considering for Season 5 of K Drama Chat.
Today, we'll be discussing Episode 10 of 25, 21, the hit K Drama on Netflix starring Kim Tae-ri as Na Hee-do and Nam Joo Hyuk as Baek Yi-jin. We discuss:The song With, which is sung by all five stars of the show; how are these actors so talented?How Na Hee-do and Baek Yi-jin's relationship is continuing to evolve now that Baek Yi-jin has confessed his love to Na Hee-do.How Na Hee-do's life has been transformed by Ko Yu-rim's friendship and Baek Yi-jin's love.How Ko Yu-rim is less lonely, now that she has Na Hee-do and Moon Ji-woong, but she still carries a sadness that comes from her family's financial hardships.How Baek Yi-jin is still burdened at work and by his promise to bring his family back together.How it's probably not realistic that Baek Yi-jin would take four minors on a work trip, without a crew, and without chaperones.How important it is to know how to make rice properly.How adult Na Hee-do tells Min-chae that she doesn't remember the beach trip, remarking that sometimes it's okay to forget things.The K Drama elements that we see in this episode: food, alcohol, the trip and catch, clothing, and the beautiful OST.The amazing Choi Hyun-Wook, the actor who plays Moon Ji-woong.The different ways that Na Hee-do and Baek Yi-jin refer to each other.ReferencesHistory of corporate punishment in KoreaUnderstanding corporal punishment in KoreaHonorific forms of address in Korean
Today, we'll be discussing Episode 6 of 25, 21, the hit K Drama on Netflix starring Kim Tae-ri as Na Hee-do and Nam Joo Hyuk as Baek Yi-jin. We discuss:How funny this episode how wasHow we loved the forward momentum of both Na Hee-do and Baek Yi-jin's charactersWhy Baek Yi-jin decided to go back to Seoul, apply to become a reporter, and not sell Na Hee-do that he's back in SeoulHow Na Hee-do got a boyfriend and then broke up with him as a sort of experiment in loveHow Baek Yi-jin came to Na Hee-do's rescue once again when he picked her up at the train station, got her to the tournament on time, and helped her get her confidence backThe massive worker demonstrations in South Korea in 1999The prominence of the chaebol companies in South KoreaThe history of the game rock, paper and scissorsHow we finally learn the story behind the break in friendship between Coach Yang and Na Hee-do's momThe amazing cinematography in this episodeThe amazing Nam Joo-hyuk: his background, early start in modeling, rise to fame, awards, and brand ambassadorshipsHow Sung Hee is enjoying The GloryHow Joanna finished One Spring Night but found it a real slog to get throughReferencesWorld Rock Paper Scissors AssociationNam Joo-hyuk on WikipediaStrikes erupt in South Korea Against Restructuring and Job Losses
Today, we'll be discussing Episode 4 of 25, 21, the hit K Drama on Netflix starring Kim Tae-ri as Na Hee-do and Nam Joo Hyuk as Baek Yi-jin. We discuss:The songs we featured in this episode: Go by DOKYEOM and Sinin in the Rain by Shin Min Yong.How we love Kim Tae-ri's acting in this episode.How Coach Yang's training regimen, while tough, almost sadistic, is paying off for Na Hee-do.How the relationship between Na Hee-do and Baek Yi-jin is changing and we start to see a hint of something developing between them.How Baek Yi-jin is really struggling because he can't land a job.The hilarious but awkward scene in Seung-wan's house when the five young people catch all the loaches and Seung-wan's mom makes them all soup.Ko Yu-rim's fury at Na Hee-do because she thinks Na Hee-do has been putting pine drinks in her locker. We also learn about her close relationship with her dad and her insecurities about whether or not she'll ever win a gold medal again.How we get a hint of what happens in the future during a conversation between Na Hee-do and her mother in the present day. Her mother mentions that she saw Baek Yi-jin last month, letting us know that Na Hee-do and Baek Yi-jin are not together today. We also get a sense that Na Hee-do's relationship with Ko Yu-rim will change.Our favorite lines from this episode.The Korean snack shops that feature so prominently in Korean shows. ReferencesLoach soup https://en.m.wikipedia.org/wiki/Chueo-tangKorean Snack Bars https://thekrazemag.com/latest-updates/2019/7/28/-korean-snack-bars?format=ampEating and drinking in South Korea https://www.roughguides.com/south-korea/eating-drinking/
Welcome to episode 141, today, we are excited to have Chatri Sityodtong, the founder, chairman, and CEO of ONE Championship, Asia's largest sports media property. ONE ranked #2 overall in 2021 digital viewership with over 13.8 billion video views across Facebook, Instagram, YouTube, and TikTok. It sits just behind the #1-ranked NBA, which boasts over 14.5 billion for 2021. The UFC is #5, with 6.6 billion.Chatri has over 35 years of martial arts experience as a student, fighter, teacher, and coach. He is a certified senior Muay Thai instructor under Kru Yodtong Senanan. I apologize if I'm not pronouncing it correctly. He also holds a brown belt in Brazilian Jiu-Jitsu under Master Renzo Gracie.For Chatri, the biggest misconception about martial arts is that it's about fighting. He believes that the true essence of martial arts is the journey of continuous self-improvement mentally, physically, emotionally, and spiritually. Through martial arts, Chatri inherited integrity, humility, honor, respect, courage, discipline, and more. Above all, it empowered him with an unbreakable warrior spirit to conquer adversity in life.Born in Thailand, his rags-to-riches life story has inspired millions worldwide on BBC, CNN, Financial Times, Bloomberg, and other media. At his lowest point, he survived on $4 per day in the United States. His only suitcase contained everything he owned, and he lived on one meal daily. Yet, he didn't grow up in poverty as a child in Thailand. Instead, Chatri grew up in a loving, well-to-do home. Life only changed when his parents lost everything in the Asian Financial Crisis. Poverty ripped his family apart. And his father abandoned the family, leaving Chatri to pick up the pieces as the oldest son.Chatri is a philanthropist, a motivational speaker, and a serial entrepreneur who has founded, invested in, or served as CEO of several successful companies, including ONE Championship and Evolve MMA. He holds an MBA from Harvard Business School and a BA from Tufts University.In this episode, Chatri will share his insights on martial arts, entrepreneurship, philanthropy, the challenges and rewards of building a global sports media brand, and much more.So, get ready to learn from one of the most influential and inspiring figures in martial arts and business right after jiu-jitsu tribe's message. OSS!Gustavo Dantaswww.jiujitsutribe.orgwww.thebjjmentalcoachpodcast.comItunes – https://tinyurl.com/y45kymp4Spotify – https://tinyurl.com/4wxs83y3Our supportersBRAUS Fight & JJ Tribe – https://brausfight.com/?braus=jiujitsutribeUse CODE jiujitsutribe to receive 10% your purchase
Today, we'll be kicking off Season 4 of K Drama Chat by discussing Episode 1 of 25, 21, the hit K Drama on Netflix starring Kim Tae-ri as Na Hee-do and Nam Joo Hyuk as Baek Yi-jin. We discuss:The song Starlight by TaeilThe main actors of the show:Kim Tae-riNam Joo HyukKim Ji-yeon, better known by her stage name BonaHow age is calculated in Korea vs. internationally, which is why there's confusion over how old the actors in this show areThe origins of the 1990s Asian financial crisis and how it affected South and East AsiaThe impact of an IMF bailout and austerity measures on countriesThe South Korea gold campaignThe surprising dominance of South Korea in the world of fencingPolite language between Na Hee-do and Baek Yi-jinThe large number of K Drama elements we see in this episode:Beautiful actorsCryingFlowersFoodAlcoholWrist grabsClothing and fashionUmbrella sceneThe challenging mother-daughter relationship between Hee-do and her momOur favorite lineHow much we loved this K Drama from the very first episodeReferences:25, 21 castLast Sequence by WJSN (featuring Bona)
How does a shy boy with no social skills, who failed his mathematics & went to school smelling of prawns every day... become the Managing Director of UBS?Just ask Eric Sim.The truth is:❌ Eric didn't just fail his maths.He also failed his English Literature & History papers and had to work at his father's prawn noodle shop before going to school.❌ He bombed his first job in FX Sales role at DBS Bank.❌ He failed all his job interviews in London (which he attended wearing a chicken suit!).But Eric's story doesn't end there.He:✅ Figured out how to leverage on his unique background, i.e. as the son of a hawker & bartender, to build a unique personal brand & score his first job;✅ Found an amazing boss, Prasanna Thombre, who believed in him & gave him all the international opportunities he needed; and✅ Built relationships that meant that his future jobs were all referred to him.Eric learned very quickly that you need to do more than just your job to thrive.And we talked about the cultural nuances of working in different Asian cities (including Ulaanbaatar!), what it meant to be the Managing Director, why he would go to the same restaurant x4 a week!! & how he networks to build the relationships he needs.Highlights:2.52: Forced to drink oat milk & selling prawn noodles5:27 Carving potatoes was a lie!6:43 Developing an inferiority complex (+ learning everything!)9:16 Sending an unsolicited application to DBS Bank12:35 Restarting his career at Lancaster University14:36 Wearing a chicken suit for interviews at London's financial banks16:15 The Asian Financial Crisis & Prasanna Thombre20:53 Moving to Citi23:41 Working in Shanghai & witnessing the liberalisation of China's financial sector24:52 Chinese business culture25:55 Cigarettes28:09 The importance of being friends with all the chefs30:31 Ulaanbaatar, Mongolia31:38 Why Eric keeps getting referrals for jobs32:33 Why Citi was Eric's dream job35:09 Did the wealthy look down at Eric?37:11 Why being a hawker's son helped Eric as a banker40:14 Meeting Hawker Chan42:53 Becoming Managing Director at UBS (investment banking)44:30 Was Eric a successful MD?
The Korean won has been a restricted currency since the Asian Financial Crisis of 1997-98. Now, though, regulatory changes are putting the won on the verge of internationalization. In today's episode, host Anthony Man and J Young Lee, Co-Founder and Chief Business Officer at SentBe, explore the historical context of this development, when and how it might happen, and why it is getting economists so excited. Also, find out just what's driving the explosive rise of Korean cross-border payment Fintechs.
The ringgit has fallen by 9% to the greenback on a year-to-date basis, levels not seen since the Asian Financial Crisis in 1998. Some view the weakening currency as an indication that Malaysia's economy is on the rocks, but is that necessarily the case? Business commentator Pankaj C. Kumar helps us make sense of the relative value of currencies, and also highlights the structural issues in the economy that underpin the value of the ringgit.
On July 2, 1997, Thailand decided to drop the peg of the country's currency to the US dollar. What seemed like an isolated event marked the beginning of the Asian Financial Crisis, in which a combination of corporate, financial, and economic problems led to a huge loss of confidence and capital outflows from the region's emerging economies. We take a retrospective look at the crisis 25 years ago with some questions on mind: Have we learned the lessons? Is Asia better prepared today to face financial turmoil? Host Ding Heng is joined by Professor Qu Qiang, Assistant Director of the International Monetary Institute, Renmin University of China; Keith Pilbeam, Professor of International Economics and Finance at City, University of London; Ilaf Elard, Assistant Professor of Practice in Economics at the New York University Shanghai.
As Asia and EM equities continue to experience what may end up being the longest bear market in the history of the asset class, looking to past bear markets may give investors some insight into when to come off the sidelines.-----Transcript-----Welcome to Thoughts on the Market. I'm Jonathan Garner, Chief Asia and Emerging Market Equity Strategist at Morgan Stanley. Along with my colleagues, bringing you a variety of perspectives, today I'll be discussing whether we're nearing the end of the current bear market in Asia and emerging market equities. It's Wednesday, August the 24th, at 8 a.m. in Singapore. The ongoing bear market in Asia and EM equities is the 11th which I've covered as a strategist. And in this episode I want to talk about some lessons I've learned from those prior experiences, and indeed how close we may be to the end of this current bear market. A first key point to make is that this is already the second longest in duration of the 11 bear markets I've covered. Only that which began with the puncturing of the dot com bubble by a Fed hike cycle in February 2000 was longer. This is already a major bear market by historical standards. My first experience of bear markets was one of the most famous, that which took place from July 1997 to September 1998 and became known as the Asian Financial Crisis. That lasted for 518 days, with a peak to trough decline of 59%. And as with so many others, the trigger was a tightening of U.S. monetary policy at the end of 1996 and a stronger U.S. dollar. That bear market ended only when the U.S. Federal Reserve did three interest rate cuts in quick succession at the end of 1998 in response to the long term capital management and Russia defaults. Indeed, a change in U.S. monetary policy and/or a peak in the U.S. dollar have tended to be crucial in marking the troughs in Asia and EM equity bear markets. And that includes the two bear markets prior to the current one, which ended in March 2020 and October 2018. However, changes in Chinese monetary policy and China's growth cycles, starting with the bear market ending in October 2008, have been of increasing importance in recent cycles. Indeed, easier policy in China in late 2008 preceded a turn in U.S. monetary policy and helped Asia and EM equities lead the recovery in global markets after the global financial crisis. Although China has been easing policy for almost a year thus far, the degree of easing as measured by M2 growth or overall lending growth is smaller than in prior cycles. And at least in part, that's because China is attempting to pull off the difficult feat of restructuring its vast and highly leveraged property sector, whilst also pursuing a strategy of COVID containment involving closed loop production and episodic consumer lockdowns. Those key differences are amongst a number of factors which have led us to recommend staying on the sidelines this year, both in our overall coverage in Asia and emerging markets, but also with respect to China. We have preferred Japan, and parts of ASEAN, the Middle East and Latin America. Finally, as we look ahead I would also note that one feature of being later on in a bear market is a sudden fall in commodity prices. And certainly from mid-June there have been quite material declines in copper, iron ore and more recently, the oil price. Meanwhile, classic defensive sectors are outperforming. And that sort of late cycle behavior within the index itself raises the question of whether by year end Asia and EM equities could once again transition to offering an interesting early cycle cyclical play. That more positive scenario for next year would depend on global and U.S. headline inflation starting to fall back, whether we would see a peak in the U.S. dollar and Fed rate hike pricing.For the time being, though, as the clock ticks down to the current bear market becoming the longest in the history of the asset class, we still think patience will be rewarded a while longer. Thanks for listening. If you enjoyed the show, please leave us a review on Apple Podcasts and recommend Thoughts on the Market to a friend or colleague today.
In Episode 265 of Hidden Forces, Demetri Kofinas speaks with Michael Howell. Michael is the CEO of CrossBorder Capital, a London-based, independent research and investment company that provides asset allocation and capital markets advice to institutional investors. This conversation is a natural follow-up to our recent episodes with Lev Menand on the shadow banking system and Eric Basmajian on economic cycles. Specifically, the credit cycle and its leading impact on the economy and asset prices. But this conversation with Michael also pulls directly from other episodes as well with guests like Michael Pettis on global trade and finance, Claudio Borio on financial instability, Brent Johnson on the Revenge of the Dollar, James Aitken on Digital Currency and the Pivot to Asia, Russel Napier on the New Economic Order and the Asian Financial Crisis, and of course, one of my absolute favorites, a conversation with Kevin Coldiron, Tim Lee, and Jamie Lee on the role of the US Dollar as an international funding currency and as the primary driver of recurring systemic crises in the international financial system. Global liquidity is a term that every single person working in finance and in financial media has not only heard of but has probably used at one point or another. And yet, if you were to ask most people what this term means or what it refers to they would be hard pressed to give you a clear or uniform answer. This is because the drivers of global liquidity, namely the financial and exchange rate relationships within and between countries and the determinants of cross-border flows of money, securities, goods and services, are constantly changing. In the process, they have become, in the words of Michael Howell, “the new weapons in the escalating Capital Wars between the U.S., Europe, and China,” the last of which has a vested interest in not only the long-term stability of the international financial system but perhaps even the eventual aim of displacing the Dollar in favor of the Yuan as the fulcrum around which international trade and commerce is eventually invoiced and credited The goal of today's conversation is not only to help you gain a deeper appreciation for what global liquidity is and the geopolitical and economic forces driving it but to also help you understand how it impacts you and your portfolio directly through the outsized role that it has on shaping economic outcomes and asset prices. This comes at a time when this very liquidity is receding faster than at any point since the Great Financial Crisis and by some measures, even quicker. You can access the full episode, transcript, and intelligence report to this week's conversation, along with the additional material provided by Michael Howell by going directly to the episode page at HiddenForces.io and clicking on "premium extras." All subscribers gain access to our premium feed, which can be easily added to your favorite podcast application. If you enjoyed listening to today's episode of Hidden Forces you can help support the show by doing the following: Subscribe on Apple Podcasts | YouTube | Spotify | Stitcher | SoundCloud | CastBox | RSS Feed Write us a review on Apple Podcasts & Spotify Subscribe to our mailing list at https://hiddenforces.io/newsletter/ Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe & Support the Podcast at https://hiddenforces.io Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod Follow Demetri on Twitter at @Kofinas Episode Recorded on 08/02/2022
It's been a month since the 25th anniversary of the 1997 Asian financial crisis which wreaked havoc in much of East Asia and Southeast Asia. What were the fundamental impact of the crisis to the region's economic policies and what lessons can we take away from it as concerns of another economic crisis draws near? Russell Napier, author and cofounder of the think tank ERIC explains.
Fandbee began life as Lee's Frozen Foods in 1972 at a small retail shop in Kampung Attap, KL. Today, 60 years and 3 generations later, it continues the business in Malaysia, Cambodia and Vietnam. Fandbee's Managing Director, Gareth Tan, shares how the company managed to weather at least 4 global recessions, the Asian Financial Crisis and pandemics.
BTC $ 20,271 Today's guest on the show is @jeffyew_ Founder and CEO of #Bitcoin Fund @MonochromeAsset . Join @jeffyew_ and I as we delve into what an ETF is and why Jeff believes it's an important vehicle for pushing #Bitcoin adoption and advancing the world onto a bitcoin standard. How does @jeffyew_ explain the difference between a spot ETF and a closed-end fund like Grayscale #Bitcoin Trust? How would institutional investors such as pension funds be able to get exposure to #Bitcoin to protect their holdings and the families they represent? What is @jeffyew_ rabbit hole story and how did the Asian Financial Crisis of 1997 help shape his young mind to be ready for #bitcoin? A huge thanks to @jeffyew_ for coming on the show and sharing his insights and personal story! Pleb Service Announcement. Liberty in Our Lifetime Conference is taking place in Prague from October 21-23. Find out more and get your tickets at www.lifetimeliberty.com and follow @LibertyIOL on Twitter Code ‘Princey' for a discount. Thank you: @coincorner @swanbitcoin @relai_ch @ShiftCryptoHQ @BTCreserveHQ @bitcoindayio for your trust and support. You can also support the show by using the @Breez_Tech App and @fountain_app by searching for the Once BITten Podcast! Fountain App - https://play.fountain.fm/show/2oJTnUm5VKs3xmSVdf5n Shills and Mench's: SWAN BITCOIN www.swanbitcoin.com/bitten RELAI www.relai.ch/bitten SHIFTCRYPTO http://shiftcrypto.ch/bitten Code BITTEN COINCORNER https://www.coincorner.com/social/princeySOV BITCOIN RESERVE - www.bitcoinreserve.com/bitten LIBERTY IN OUR LIFETIME CONFERENCE. Early bird tickets at www.lifetimeliberty.com Use code Princey for a discount and follow @LibertyIOL on Twitter BITCOIN DAY CONFERENCE https://bitcoinday.io/ Use code OB10 at checkout for a 10% Discount. SATSBACK - Shop online and earn back sats! https://satsback.com/register/5AxjyPRZV8PNJGlM UNGOVERNABLE MISFITS - Radical uncensored streetwear - https://ungovernablemisfits.com/?um=bitten Use code ‘bitten' for your 10% discount. KONSENSUS NETWORK - Buy bitcoin books in different languages. Use code bitten for 10% discount -https://konsensus.network?ref=bitten BALTIC HONEY BADGER CONFERENCE - https://baltichoneybadger.com/
In Episode 243 of Hidden Forces, Demetri Kofinas speaks with investor and financial historian Russell Napier. Russel was on the podcast a year ago for a conversation about his book on the Asian Financial Crisis and “The Birth of the Age of Debt.” Today's episode picks up where that conversation left off, building on the foundations of the post-Bretton Woods system of flexible exchange rates and dollar hegemony to speculate on what comes next—on what the new order that is now being born will look like, how it will operate, and what its implications will be for economies, industries, portfolios, and the role of the dollar in the new, international monetary system. It's a conversation about inflation, war, and how to position oneself for a new world where old assumptions about monetary policy, risk-taking, and the power and influence of governments to shape economic opportunities will need to be radically rethought. Understanding who the winners and losers of this new economic and political order will be, as well as the asset classes, industries, and companies that will benefit from it is an imperative for investors. This conversation is meant to help you develop the mindset and strategies that you will need to navigate this new world. You can access the full episode, transcript, and intelligence report to this week's conversation by going directly to the episode page at HiddenForces.io and clicking on "premium extras." All subscribers gain access to our premium feed, which can be easily added to your favorite podcast application. If you enjoyed listening to today's episode of Hidden Forces you can help support the show by doing the following: Subscribe on Apple Podcasts | YouTube | Spotify | Stitcher | SoundCloud | CastBox | RSS Feed Write us a review on Apple Podcasts & Spotify Subscribe to our mailing list at https://hiddenforces.io/newsletter/ Producer & Host: Demetri Kofinas Editor & Engineer: Stylianos Nicolaou Subscribe & Support the Podcast at https://hiddenforces.io Join the conversation on Facebook, Instagram, and Twitter at @hiddenforcespod Follow Demetri on Twitter at @Kofinas Episode Recorded on 04/07/2022
In the first ever reveal of his forthcoming book, Pacific Power Paradox: American Statecraft and the Fate of the Asian Peace, Dr. Van Jackson attempts to untangle the politics, economics, security, and strategic statecraft in an Asia-Pacific region experiencing accelerated change. Jackson focused on how regional change can affect U.S. alliance partners such as South Korea while shedding some light on U.S. strategy-making in the Asia-Pacific region. The conversation was moderated by Asia Society Korea Senior Contributor Dr. Mason Richey. Asia Society on YouTube: http://AsiaSociety.org/YouTube Support Asia Society today: http://AsiaSociety.org/Donate Asia Society Korea Webpage: https://asiasociety.org/korea/meet-author-whither-asian-peace-future-politics-economics-and-security-asia-pacific
Buy the Book Here - Kindle - https://www.amazon.co.uk/Asias-Stock-Markets-Ground-Up-ebook/dp/B09J4WBYHL/Hardcover - https://www.amazon.co.uk/Asias-Stock-Markets-Ground-Up/dp/9814974625/On this weeks episode I hosted Herald van der Linde, Chief Asia Equity Strategist at HSBC and author of the recently released book "Asia's Stock Markets from the Ground Up".On this podcast we talked about how retail investors can invest in Asia, misconceptions about the Asian Markets, most underrated Asian market and . I hope you enjoy!0:22 - Influence for writing the book?2:50 - Many Asian ETFs just focus on China4:05 - Under analysed companies throughout Asia 5:10 - High retail trader presence in Asia6:00 - How did you end up in Asia?9:00 - What are the misconceptions of Asian markets?11:15 - India and Indonesia independent from China sphere of influence13:00 - Countries benefiting from US-China trade war?13:50 - Opportunities in Bangladesh?15:50 - Increase in domestic consumption17:05 - Changing demographics 20:10 - Trends to be watching in the region?22:05 - Which Asian market do you think are underrated?23:20 - What is your investment strategy?25:45 - High exposure to commodities and US Dollar price27:10 - How will US interest rate increase impact investing in Asia?28:24 - Do you see any similarities between now and the Asian Financial Crisis in the late 1990's?31:20 - Cultural intricacies between Asian countries32:30 - Advice for people pursuing a career investing in Asia?34:20 - One message to take away from the book?Herald van der Linde is HSBC's Head of Equity Strategy, Asia Pacific. He joined the bank in 2005 and came to HSBC with 20 years of experience in various roles, including stock analyst, equity strategist and country head of research in Indonesia, South Africa and Taiwan. He is a Chartered Financial Analyst (CFA), speaks seven languages and has an MSc in Economics, for which he wrote a thesis on Indonesia's central bank in Jakarta in 1993.Herald is also an Associate of the Institute of Wine and Spirits and is a certified lecturer for the Wine & Spirit Education Trust (WSET). He sits on the advisory committee for the China Studies programme at Hong Kong's Baptist University, the author of Jakarta: History of a Misunderstood City, published in 2020 and Asia's Stock Markets from the Ground Up in October, 2021. Herald van der Linde -Twitter - https://twitter.com/HeraldLindeLinkedIn - https://www.linkedin.com/in/herald-van-der-linde-a1699512/WTFinance Instagram - https://www.instagram.com/wtfinancee/Spotify - https://open.spotify.com/show/67rpmjG92PNBW0doLyPvfnTikTok - https://vm.tiktok.com/ZMeUjj9xV/iTunes - https://podcasts.apple.com/us/podcast/wtfinance/id1554934665?uo=4LinkedIn - https://www.linkedin.com/in/anthony-fatseas-761066103/Twitter - https://twitter.com/AnthonyFatseas
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