China started 2025 with deflation, a property crisis and fears of a “lost decade” damping sentiment. By year’s end, it had stunned the world with an AI breakthrough, a trillion-dollar trade surplus and rare earth dominance.

On today’s Big Take Asia Podcast, host K. Oanh Ha talks with Bloomberg Executive Editor John Liu and Bloomberg Opinion’s Shuli Ren about how China navigated Trump’s tariff war, revived investor confidence and what risks could derail its momentum in 2026.

Read more: Repeat After Me: Never, Ever Underestimate China
Xi’s Triumphant Year Staring Down Trump Belies Woes in China



Hosted by: K. Oanh Ha; Produced by: Naomi Ng and Yang Yang; Reported by: Shuli Ren and John Liu; Edited by: Paddy Hirsch; Fact-checking by: Rachael Lewis-Krisky; Engineering by: Katie McMurran.

Senior Producer: Naomi Shavin. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

China started 2025 with deflation, a property crisis and fears of a &ldquo;lost decade&rdquo; damping sentiment. By year&rsquo;s end, it had stunned the world with an AI breakthrough, a trillion-dollar trade surplus and rare earth dominance.
On today&rsquo;s Big Take Asia Podcast, host K. Oanh Ha talks with Bloomberg Executive Editor John Liu and Bloomberg Opinion&rsquo;s Shuli Ren about how China navigated Trump&rsquo;s tariff war, revived investor confidence and what risks could derail its momentum in 2026.
Read more:&nbsp;<a href="https://www.bloomberg.com/opinion/articles/2025-12-23/repeat-after-me-never-ever-underestimate-china">Repeat After Me: Never, Ever Underestimate China </a><a href="https://www.bloomberg.com/news/articles/2025-12-28/xi-s-triumphant-year-staring-down-trump-belies-troubles-in-china?srnd=homepage-americas">Xi&rsquo;s Triumphant Year Staring Down Trump Belies Woes in China</a> 
Hosted by: K. Oanh Ha; Produced by: Naomi Ng and Yang Yang; Reported by: Shuli Ren and John Liu; Edited by: Paddy Hirsch; Fact-checking by: Rachael Lewis-Krisky; Engineering by: Katie McMurran.
Senior Producer: Naomi Shavin. Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

We’re taking The Big Take to Asia. Each week, Bloomberg’s Oanh Ha tells a story from the home of the world's most dynamic economies - and the markets, tycoons and businesses that drive the ever-shifting region.

We’re taking The Big Take to Asia. Each week, Bloomberg’s Oanh Ha tells a story from the home of the world's most dynamic economies - and the markets, tycoons and businesses that drive the ever-shifting region.

Big Take Asia

How China Defied the Odds in 2025

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/21c1c58a-fe0d-443c-b7d8-b3c3013a9faa/transcript

This week, following the deadly shooting of Renée Good by an ICE agent in Minneapolis, the state of Minnesota sued the federal government in a bid to kick out thousands of Immigration and Customs Enforcement agents.

On today’s Big Take podcast, Sarah Holder is joined by Bloomberg immigration reporter Alicia Caldwell and the National Immigration Law Center’s Efrén Olivares to discuss how a rapid evolution under President Trump has reshaped ICE — and how states are responding to unprecedented waves of federal enforcers.

This week, following the deadly shooting of Ren&eacute;e Good by an ICE agent in Minneapolis, the state of Minnesota sued the federal government in a bid to kick out thousands of Immigration and Customs Enforcement agents.
On today&rsquo;s Big Take podcast, Sarah Holder is joined by Bloomberg immigration reporter Alicia Caldwell and the National Immigration Law Center&rsquo;s Efr&eacute;n Olivares to discuss how a rapid evolution under President Trump has reshaped ICE &mdash; and how states are responding to unprecedented waves of federal enforcers.

The Jump in ICE Funding Behind The Minneapolis Surge

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/a5b5fa11-b568-4fd9-941c-b3d20007542e/transcript

On Sunday night, Federal Reserve Chair Jerome Powell announced that the US Department of Justice had served the Fed with grand jury subpoenas threatening a criminal indictment over a costly renovation of the central bank’s building.

It was a watershed moment in the escalating tension between the Trump administration and the US central bank. 

On today’s Big Take podcast, host David Gura sits down with Fed reporters Amara Omeokwe and Enda Curran to discuss what this means for one of the most important financial institutions in the world, for Powell, for the White House — and where things could go from here. 

Read more: 
Fed Served With DOJ Subpoenas; Powell Vows to Stand Firm 
Former Fed Chairs, Treasury Secretaries Condemn Powell Probe
Trump Faces Fed Roadblock as Republicans Blast Justice Probe

Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Amara Omeokwe and Enda Curran; Edited by Naomi Shavin.

Fact-checking by David Fox and Julia Press; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

On Sunday night, Federal Reserve Chair Jerome Powell announced that the US Department of Justice had served the Fed with grand jury subpoenas threatening a criminal indictment over a costly renovation of the central bank&rsquo;s building.
It was a watershed moment in the escalating tension between the Trump administration and the US central bank.&nbsp;
On today&rsquo;s Big Take podcast, host David Gura sits down with Fed reporters Amara Omeokwe and Enda Curran to discuss what this means for one of the most important financial institutions in the world, for Powell, for the White House &mdash; and where things could go from here.&nbsp;
Read more:&nbsp;
<ul>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-01-12/powell-says-justice-department-served-fed-with-subpoenas?srnd=homepage-americas">Fed Served With DOJ Subpoenas; Powell Vows to Stand Firm</a>&nbsp;</li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-01-12/former-fed-chairs-treasury-secretaries-condemn-doj-powell-probe?srnd=homepage-americas">Former Fed Chairs, Treasury Secretaries Condemn Powell Probe</a></li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-01-12/trump-faces-fed-roadblock-as-key-republican-blasts-justice-probe?srnd=homepage-americas">Trump Faces Fed Roadblock as Republicans Blast Justice Probe</a></li>
</ul>
Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Amara Omeokwe and Enda Curran; Edited by Naomi Shavin.
Fact-checking by David Fox and Julia Press; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Powell Makes His Case to The American People

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/3fb84cd8-152e-4c9c-84ac-b3d0015d10ca/transcript

After the Trump Administration’s strike on Venezuela and the arrest of President Nicolás Maduro, there’s one word on everyone’s mind: oil. President Trump has big plans for the country’s vast reserves, which today account for just 1% percent of global production.

On today’s Big Take podcast, host David Gura and Bloomberg Opinion’s Javier Blas talk through the Trump Administration’s gamble on Venezuela’s oil, how the president plans to convince the energy industry to invest in the country’s aging infrastructure, and why its resources are key to the administration’s plans at home and abroad. 

Read more: Forget the Naysayers, Venezuela Offers Quick Oil Wins 

Listen more: Oil Prices Could Get Cheaper Despite Venezuela Blockade

Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Javier Blas; Edited by Paddy Hirsch and Simon Casey.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

After the Trump Administration&rsquo;s strike on Venezuela and the arrest of President Nicol&aacute;s Maduro, there&rsquo;s one word on everyone&rsquo;s mind: oil. President Trump has big plans for the country&rsquo;s vast reserves, which today account for just 1% percent of global production.
On today&rsquo;s Big Take podcast, host David Gura and Bloomberg Opinion&rsquo;s Javier Blas talk through the Trump Administration&rsquo;s gamble on Venezuela&rsquo;s oil, how the president plans to convince the energy industry to invest in the country&rsquo;s aging infrastructure, and why its resources are key to the administration&rsquo;s plans at home and abroad.&nbsp;
Read more:&nbsp;<a href="https://www.bloomberg.com/opinion/articles/2026-01-09/venezuela-oil-offers-quick-riches-for-a-few-us-companies?srnd=undefined">Forget the Naysayers, Venezuela Offers Quick Oil Wins</a>&nbsp;
Listen more: <a href="https://www.bloomberg.com/news/articles/2025-12-22/oil-prices-could-get-cheaper-despite-venezuela-blockade">Oil Prices Could Get Cheaper Despite Venezuela Blockade</a>
Hosted by David Gura; Produced by Rachael Lewis-Krisky; Reported by Javier Blas; Edited by Paddy Hirsch and Simon Casey.
Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Why Trump Wants Venezuela’s Oil

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/b02e7eba-8772-4984-b885-b3cd016ac501/transcript

How China Defied the Odds in 2025

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