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Chronic conflict in Ukraine and the Middle East, stubborn global inflation, soaring military spending, and persistent tension with China haven’t stopped stocks from marching higher. 

Are stocks ignoring geopolitical risk? Is a new investment narrative emerging? How can investors profit from the remarkable global growth in defense spending? 

Sean Darby, equity strategist at Mizuho Securities shares his ideas and perspectives with co-hosts John Lee and Tom Corbett on the latest episode of Asia Centric.

Chronic conflict in Ukraine and the Middle East, stubborn global inflation, soaring military spending, and persistent tension with China haven’t stopped stocks from marching higher. 
Are stocks ignoring geopolitical risk? Is a new investment narrative emerging? How can investors profit from the remarkable global growth in defense spending? 
Sean Darby, equity strategist at Mizuho Securities shares his ideas and perspectives with co-hosts John Lee and Tom Corbett on the latest episode of Asia Centric.

Some of the world's largest and fastest-growing markets, economies and companies are in Asia. Every Thursday, John Lee from Bloomberg Intelligence speaks with experts and newsmakers about the big ideas and trends moving money across the region.

Some of the world's largest and fastest-growing markets, economies and companies are in Asia. Every Thursday, John Lee from Bloomberg Intelligence speaks with experts and newsmakers about the big ideas and trends moving money across the region.

Asia Centric by Bloomberg Intelligence

The Bull Case for Defense Stocks Could Be for Real

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/fc2a4664-2920-43ab-abcb-b16b0006463d/transcript

Corporate governance reform has acted as a major catalyst for stock markets in Japan and South Korea. Now, Southeast Asia is eager to get in on the action, with countries from Vietnam to Indonesia rolling out new measures to entice foreign capital back to the region. But is Southeast Asia – a market historically saddled with a perception of poor corporate governance – truly ready to embrace shareholder activism?

Christopher Beselin, CIO and founding partner at Endurance Capital, a shareholder activist fund based in Ho Chi Minh City, joins John Lee on the Asia Centric podcast. Beselin unpacks why the region's $3 trillion market is ripe for a collaborative style of activism. He also explains why Vietnam's export-driven growth model makes it a regional standout, and how lower tax regimes give Southeast Asia a unique advantage over Japan and South Korea in realizing shareholder value.

Corporate governance reform has acted as a major catalyst for stock markets in Japan and South Korea. Now, Southeast Asia is eager to get in on the action, with countries from Vietnam to Indonesia rolling out new measures to entice foreign capital back to the region. But is Southeast Asia &ndash; a market historically saddled with a perception of poor corporate governance &ndash; truly ready to embrace shareholder activism?
Christopher Beselin, CIO and founding partner at Endurance Capital, a shareholder activist fund based in Ho Chi Minh City, joins John Lee on the Asia Centric podcast. Beselin unpacks why the region's $3 trillion market is ripe for a collaborative style of activism. He also explains why Vietnam's export-driven growth model makes it a regional standout, and how lower tax regimes give Southeast Asia a unique advantage over Japan and South Korea in realizing shareholder value.

An Activist Investor’s Playbook for Southeast Asia

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b24ea635-50eb-43cf-adff-b42d0079dd55/transcript

Taiwan's economy defied all expectations to post a staggering 8.7% real GDP growth in 2025. This unprecedented expansion was driven by a boom in semiconductor sales, with Taiwan Semiconductor Manufacturing Co. (TSMC) fueling a current account surplus of nearly 20% of GDP. The tech giant is so dominant that it now accounts for more than 44% of Taiwan's stock exchange weighted index.

But can this extraordinary, semiconductor-led growth continue? The heavy reliance on TSMC is creating a K-shaped recovery, which poses a headache for the central bank. With inflation relatively low despite the headline growth, policymakers face a dilemma: how to manage interest rates without stifling the broader domestic economy, and whether the Taiwan dollar should be allowed to appreciate beyond the tight trading range it’s maintained for 30 years.

Paul Cavey, an independent economist, founder of East Asia Econ, and former Asia macro strategist at Wellington Management, joins host John Lee from Taipei to unpack these macroeconomic challenges. Cavey discusses Taiwan’s unique re-industrialization story, its strategic pivot away from mainland China, and why demographic constraints and labor shortages are finally pushing domestic wages higher.

Taiwan's economy defied all expectations to post a staggering 8.7% real GDP growth in 2025. This unprecedented expansion was driven by a boom in semiconductor sales, with Taiwan Semiconductor Manufacturing Co. (TSMC) fueling a current account surplus of nearly 20% of GDP. The tech giant is so dominant that it now accounts for more than 44% of Taiwan's stock exchange weighted index.
But can this extraordinary, semiconductor-led growth continue? The heavy reliance on TSMC is creating a K-shaped recovery, which poses a headache for the central bank. With inflation relatively low despite the headline growth, policymakers face a dilemma: how to manage interest rates without stifling the broader domestic economy, and whether the Taiwan dollar should be allowed to appreciate beyond the tight trading range it&rsquo;s maintained for 30 years.
Paul Cavey, an independent economist, founder of East Asia Econ, and former Asia macro strategist at Wellington Management, joins host John Lee from Taipei to unpack these macroeconomic challenges. Cavey discusses Taiwan&rsquo;s unique re-industrialization story, its strategic pivot away from mainland China, and why demographic constraints and labor shortages are finally pushing domestic wages higher.

How TSMC Powered Taiwan's Remarkable GDP Growth

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a3287b61-01b4-4d64-ad4f-b4260073447a/transcript

The Iran war is refocusing global attention on the critical supply chains that power modern military arsenals. Rare earths are essential components in advanced weaponry, from fighter jets to interceptor missiles such as THAAD and Patriot. However, with Chinese export restrictions increasingly targeting equipment with military end-uses, Western nations are facing a critical shortage of the materials needed to rearm.

How long will it take for countries to counter China's near-monopoly and achieve true supply independence? And beyond the defense sector, what is the long-term growth potential for the industry as demand accelerates for electric vehicles, AI data centers, and advanced humanoid robotics?

Jack Baxter, Global Metals and Mining Analyst at Bloomberg Intelligence, joins host John Lee on the Asia Centric podcast. Together, they unpack the unprecedented deals reshaping the market and explore how Western miners – including MP Materials and Lynas Rare Earths – are positioned to capitalize on this shift.

The Iran war is refocusing global attention on the critical supply chains that power modern military arsenals. Rare earths are essential components in advanced weaponry, from fighter jets to interceptor missiles such as THAAD and Patriot. However, with Chinese export restrictions increasingly targeting equipment with military end-uses, Western nations are facing a critical shortage of the materials needed to rearm.
How long will it take for countries to counter China's near-monopoly and achieve true supply independence? And beyond the defense sector, what is the long-term growth potential for the industry as demand accelerates for electric vehicles, AI data centers, and advanced humanoid robotics?
Jack Baxter, Global Metals and Mining Analyst at Bloomberg Intelligence, joins host John Lee on the Asia Centric podcast. Together, they unpack the unprecedented deals reshaping the market and explore how Western miners &ndash; including MP Materials and Lynas Rare Earths &ndash; are positioned to capitalize on this shift.

Iran War Drives New Global Urgency for Rare Earths

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c8b49dc9-8a45-4a06-8dc8-b41f0061d4c5/transcript

The Bull Case for Defense Stocks Could Be for Real

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