The New Asia Podcast
In an era marked by sweeping tariffs, geopolitical shifts, and economic uncertainty, The New Asia Podcast offers a timely and incisive exploration of Asia’s evolving business and investment landscape under President Donald Trump’s administration. We explore the broader implications on global markets, supply chains, and investment opportunities.
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Episodes
4 days ago
4 days ago
So… it’s a deal?In the latest New Asia Podcast, Muddy Waters’ Carson Block and Rob Medd unpack Trump’s recent announcement that the US has implemented a preliminary trade agreement with Vietnam, setting baseline tariffs at 20% and 40% for transshipments from China.The announcement puts Vietnam in a unique position, especially compared to how Trump is handling tariffs with areas like Canada and Europe. And as China continues to decline in relative importance to the US, countries like Vietnam continue to rise.So where does Vietnam go from here? We break down the whole trade landscape, including:
Vietnam’s reactions to Trump’s trade deal announcement
The impact of tariffs on everything from Vietnam’s exporters to their economy
FDI imports, FDI exports, and trade balance
How General Secretary Tô Lâm is capitalizing on this moment
Manufacturing and low-margin transshipments
Stock market reactions
… and moreTo learn more about Muddy Waters Asia, please visit MuddyWatersAsia.com and follow us on X at @MuddyWatersAsia.
Monday Jun 02, 2025
Monday Jun 02, 2025
Emergency pod alert! Last Thursday, the federal court blocked Trump’s tariffs. This bombshell changes everyone’s trade talks, including Vietnam. But in our latest New Asia Podcast, we investigate how, irrespective of the ruling, General Secretary Tô Lâm and the Politburo are undertaking to transform Vietnam into a "prosperous, well-educated, healthy and independent country."
We explain why we believe Trump’s tariff proposals may have actually helped stimulate reform. We also explore misconceptions about Tô Lâm and his push for government accountability, private sector growth, and infrastructure spending, de-emphasizing Vietnam's SOE sector, comparisons between Vietnam and China, DOGE, and how Vietnam will navigate diplomatic relations, manufacturing and exports going forward.
CHAPTERS:
00:00 - Intro
01:56 - Tariff bombshell
03:57 - Government action
06:40 - Tô Lâm institutes change
08:45 - Vietnam is not the same as China
11:32 - Learning without dominating
12:42 - Introducing responsibility
16:47 - Trump family sets a precedent
18:16 - Slimming the government
21:31 - A contrast with DOGE
25:13 - Potential digitization
27:29 - Improving trade relationships
28:14 - Time to invest
To learn more about Muddy Waters Asia, please visit MuddyWatersAsia.com and follow us on X at @MuddyWatersAsia.
Tuesday May 20, 2025
Tuesday May 20, 2025
In the latest episode of The New Asia Podcast, Carson Block catches up with Muddy Waters Head of Asia Rob Medd for a comparison of Vietnam and India, especially in how to approach public equity investing. What sets these markets apart... and where do the real opportunities lie?
Since 2003, Rob’s been on the ground and watching investments in India. He’s seen firsthand how India’s growth story has evolved. Together, he and Carson unpack the paradoxes of India and Vietnam, from infrastructure and entrepreneurship to corruption and capital markets.
We dig into:- The (ironic) political and economic contrasts of Vietnam and India- How India’s market opportunities, sectors, business growth rates, and fund management landscape compare to Vietnam- Will India follow Vietnam’s industrial-heavy playbook with founder-led bets?- What India’s next economic chapter could mean for civil service workers and the "Indian Dream"- And the truth about FDI, GDP, valuations, corruption, and infrastructure
To learn more about Muddy Waters Asia, please visit MuddyWatersAsia.com and follow us on X at @MuddyWatersAsia.
Tuesday May 06, 2025
Tuesday May 06, 2025
“It might be a slower GDP story, but there's a lot of grit in the Vietnamese economy.” - Rob Medd, Muddy Waters Asia
In the second episode of The New Asia Podcast from Muddy Waters Asia, we’re reporting to you from Mumbai, India. But don’t worry - all eyes are still on Vietnam.
Host Carson Block checks in with Rob Medd to unpack what’s really going on as Vietnam faces rising tariff threats and shifting global supply chains. While the headlines scream 46% tariffs, Rob explains why that number isn't likely to materialize, and how Vietnam’s government is responding behind the scenes.
We dig into:
What a 10–25% tariff could actually mean for Vietnam’s exporters & FDI
Vietnam’s competitive position and outlook for its economic future - Trade balance pressures and credibility concerns
Creative (and legal-ish) workarounds to tariffs
…and why these tariffs could end up creating jobs (or should we say schemes) for lawyers & smugglers
How can the US and Vietnam give businesses confidence that factories won’t suddenly become too expensive to run
Whether companies like Samsung might freeze their CapEx
How Vietnam stacks up to India when it comes to navigating the tariff storm
To learn more about Muddy Waters Asia, please visit MuddyWatersAsia.com, follow us on X at @MuddyWatersAsia and subscribe to the Muddy Waters Asia email newsletter.
Monday Apr 21, 2025
Monday Apr 21, 2025
In the debut episode of The New Asia Podcast from Muddy Waters Asia, host Michael Coolbaugh sits down with Rob Medd, Head of Asia at Muddy Waters, to unpack Vietnam’s rising role in the global economy.
From trade wars to transshipment, from Cold War history to future tech investments, this is a comprehensive, boots-on-the-ground look at how Vietnam became a key player in the New World Order. Whether you’re an investor, a policy watcher, or just curious about Asia’s future, this episode lays the groundwork.
Why some are calling it Liberation Day and what it means for Asia
How Vietnam has become the battleground of U.S.–China trade tensions
The rise of Vietnam through both legitimate FDI and controversial transshipment
The geopolitical tightrope Vietnam walks with China, the U.S., Russia, and Ukraine
What the “Bamboo Policy” means for Vietnam’s foreign relations
The legacy of the Vietnam War on modern global supply chains
Domestic policy shifts, digitization, and Vietnam’s push toward higher-value manufacturing
How Vietnam differs from China in terms of intellectual property, governance, and economic openness
What to watch next: tariffs, licensing crackdowns, education reform, and infrastructure investments
To learn more about Muddy Waters Asia, please visit MuddyWatersAsia.com, follow us on X at @MuddyWatersAsia and subscribe to the Muddy Waters Asia email newsletter.