Here's Why

China's top policymakers are finalizing their next five-year plan for the country, for the period from 2026-2030. It's a blueprint for economic and social development at a time when Beijing is facing a myriad of challenges at home and abroad. Jenni Marsh, who leads Bloomberg's team covering China's economics and government, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Some of the world's wealthiest countries are struggling with debts higher than their own GDP, and it's upending their politics. Governments in France, the UK, the US and elsewhere are having to balance rising interest payments with demands for more investment, welfare or security. Bloomberg's Head of Economics and Government Stephanie Flanders joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

It's been a great six months for US stock markets, despite turbulence from tariffs and geopolitical tensions. Economic data continues to surprise to the upside. The Federal Reserve has extended a fresh lifeline to Wall Street. But beneath that surface, there are some signs of a shift in investor sentiment. Our Markets Live Managing Editor Kristine Aquino joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

A small toy monster with a toothy grin, known as a Labubu doll, has taken the world by storm, adorning the bags of millions of consumers — including popstar Rihanna and tennis champion Naomi Osaka. Some editions fetch thousands of dollars on resale, and Pop Mart, the Chinese maker of the toys, saw revenue jump over 200% in the first half of the year. But our Asia Global Business Managing Editor Rachel Chang joins Caroline Hepker to discuss how the modern toy trend started, and if it can continue.See omnystudio.com/listener for privacy information.

Recent incursions by Russian drones into NATO airspace had caused alarm across Europe, and triggered a military response from Poland. EU Commission President Ursula von der Leyen has promised a 'drone wall' along its eastern border - but what would it take to build more effective defenses? Our Global Defense Editor Gerry Doyle joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

President Trump has never failed to hide his dislike for wind farms. He says they massacre birds, cause cancer, and drive whales crazy. But now his attack on renewable power is reshaping the US energy landscape, jeopardizing thousands of jobs, and billions in investment. His administration is stopping wind farms and solar projects, revoking permits, and making every effort to reverse President Biden's green agenda. Rachel Morison, who leads Bloomberg's, Power, Gas, and Renewables Coverage in Europe joins host Caroline Hepker to discussSee omnystudio.com/listener for privacy information.

Donald Trump has never hidden his frustration with the Federal Reserve — and now, back in the White House, his attacks have only intensified. From insults directed at Chair Jerome Powell to threats against Fed Governor Lisa Cook, the president is waging an extraordinary campaign to push the central bank into cutting interest rates.It’s a striking challenge to central bank independence in the world’s largest economy. But could Trump’s unconventional pressure actually work?Bloomberg White House correspondent Catherine Lucey joins host Stephen Carroll to break down what’s at stake for the Fed, financial markets, and the future of US economic policy.See omnystudio.com/listener for privacy information.

The loophole that has allowed packages worth less than $800 to enter the United States tariff-free has ended after nearly 90 years. It's a major change for small businesses, shippers and consumers, and several European postal services have suspended deliveries of parcels to the US as a result. Our Trade Tsar Brendan Murray joins host Stephen Carroll to discuss the ramifications.See omnystudio.com/listener for privacy information.

China’s property market has been in a downward spiral for five years, with little sign of the crisis abating. Even after the collapse of real estate giant Evergrande, values are continuing to plummet. Households in financial distress are being forced to sell properties, and apartment developers that racked up enormous debt on speculative projects are on the brink of collapse. Lulu Chen, who leads our team covering Asian real estate, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

A growing body of research is pointing to the drastic changes artificial intelligence will bring to the workforce, with predictions of millions of jobs being created and lost. According to analysis of recent US labor market data, AI does not appear to be causing a slowdown in hiring. Many companies are racing to implement the new tech into their businesses, but are they employing fewer people as a result? Bloomberg Opinion columnist Parmy Olson joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The world's biggest technology companies have reported another period of strong earnings, adding to the recent rally in their share prices. Microsoft became only the second company to reach a $4 trillion valuation. Some market watchers are concerned that the valuations of the so-called Magnificent Seven companies are looking stretched. Gina Martin Adams, Chief Equity Strategist at Bloomberg Intelligence, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

US President Donald Trump’s tariff strategy is reshaping trade, diplomacy, and the American economy. The levies have sparked turmoil in financial markets, but are already bringing in billions of dollars in revenue for the US Treasury. So far, the global economy has held up better than many economists expected, but how long will that last? Bloomberg’s Trade Tsar Brendan Murray joins host Stephen Carroll to discuss economic wins, diplomatic risks, and political payoffs of the most aggressive US trade policy in almost a century.See omnystudio.com/listener for privacy information.

Just days from US President Donald Trump's next tariff deadline, stock markets have hit record highs. Market volatility - as measured by the VIX Index - is at its lowest level in months. Are investors feeling zen, or do we need to rethink how we measure fear in the markets? Our markets reporter Valerie Tytel joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

US President Donald Trump is stepping up pressure on Federal Reserve Chair Jerome Powell, with a White House official saying he discussed firing the central bank chief in a meeting with congressional Republicans on Tuesday night. Speaking on Wednesday, Trump said he’s “not planning” to remove the Fed chief, but he has repeatedly criticised Powell’s actions on interest rates. Removing a Fed governor is legally difficult and would be likely to roil markets. Our Federal Reserve reporter Amara Omeokwe joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

A surge in visitor numbers to top European destinations has sparked protests from residents, many of whom feel they've reached a tipping point into overtourism. How can towns and cities strike a balance between the economic benefits of tourism, and the drawbacks? Feargus O'Sullivan from Bloomberg CityLab joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

As the US President's July 9 tariff pause deadline approaches, more countries are announcing agreements with the United States to avoid higher levies. But the content of the accords are very different from traditional trade deals. Our EMEA News Director Rosalind Mathieson joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Iran’s highly enriched uranium was last seen by UN nuclear monitors a few days before the start of Israel’s bombing campaign on June 13. Its whereabouts are unknown for now, a major cause of concern for experts at the International Atomic Energy Agency. How dangerous is this uranium, and how does nuclear diplomacy proceed from here? Our reporter Jonathan Tirone joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

China has condemned Israel's attack on Iran, while offering to play a positive role in facilitating dialogue between the two countries. China's economic ties to the region add to its geopolitical heft - and it's the latest example of Beijing’s growing role as a global power-broker and diplomatic force. Bloomberg News's Senior Executive Editor for the Greater China Region joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Is US exceptionalism over? Tech stocks were in, then out, then in again. Have rumours of the dollar's demise as a safe haven been greatly exaggerated? 2025's market turmoil has forced investors to rethink strategies which have long yielded results, but are these shifts lasting? Our Markets Live Managing Editor Kristine Aquino joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Technology has helped to improve the accuracy of weather forecasts for decades. Artificial intelligence-driven models are becoming more common, allowing forecasting using far less computation power than previous methods. But how accurate are AI's forecasts, and how is the industry adapting? Our weather reporter Mary Hui joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

It's been a year since we launched Here's Why. In that time we've brought you stories from the around the world about the global economy and how it's changing. To mark the occasion, we wanted to look back at one of our favourite episodes.CPI, PCE, GDP, PMIs and JOLTS are all data points closely monitored by markets. They help us understand where the economy is, can give us hints on where it's going. But are all of these numbers equally important? Our global economy reporter Enda Curran joins Stephen Carroll to discuss how to separate the signal from the noise. See omnystudio.com/listener for privacy information.

Hundreds of thousands of people around the world are now on weight loss drugs like Wegovy, known as GLP-1s. The food industry is taking notice too, with big companies leaning into more nutritional products to complement the effects of the drug. Deirdre Hipwell, who leads Bloomberg's team covering healthcare and consumer companies in Europe, joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The US and China have agreed to slash import tariffs for 90 days to allow for further negotiations. The deal is a major pullback of America's trade offensive, and comes after Chinese President Xi Jinping has taken a defiant stance against Donald Trump. Bloomberg Opinion columnist Karishma Vaswani joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Crude oil prices have fallen sharply since the start of the year, caught up in the market turmoil of Donald Trump's trade war. The OPEC+ group of oil-producing countries has responded by increasing production, which has pushed prices down further. Why are these nations intentionally hurting their own revenues? Bloomberg Opinion columnist Javier Blas joins host Stephen Carroll to explain.See omnystudio.com/listener for privacy information.

The dollar is a key part of the American economy's strength, underpinning global finance and trade. But since President Donald Trump unleashed his global trade war, there are cracks in the greenback's image, which will have global consequences. Bloomberg's Senior Washington Correspondent Saleha Mohsin, who wrote the book: Paper Soldiers: How the Weaponization of the Dollar Changed the World Order, joins Stephen Carroll to discussSee omnystudio.com/listener for privacy information.

The price of gold has seen a blistering rally since Donald Trump's inauguration, as investors seek a safe haven from the policy and market turbulence. The precious metal has always been a draw during uncertain times, but this rush is driving prices to repeated record highs. Our metals reporter Jack Ryan joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The near-daily shifts in US trade policy have plunged markets into turmoil, and made businesses and consumers nervous about spending. What sort of damage does uncertainty do to the economy? And will we eventually get used to it? Co-host of Bloomberg's Odd Lots podcast, Joe Weisenthal, joins Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

US Treasury bonds have long served as a refuge for investors during times of panic. But as President Donald Trump unleashes an assault on global trade, their status as the world’s safe haven is increasingly coming into question. Yields, especially on longer-term debt, have surged on the tariff announcements, raising fears that key foreign buyers could take their money elsewhere, in a form of buyers' strike. Our Managing Editor for FX and Rates, Rachel Evans, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The American economy is richer, more innovative, and has expanded at a faster rate than most of the developed world for many years. How will Donald Trump's tariffs affect that trajectory? Bloomberg's head of economics and government Stephanie Flanders joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

A spate of plane accidents, botched landings and near-misses in the US and elsewhere has raised widespread concerns about air safety. While the likelihood of a plane crash remains incredibly low, experts are concerned that a global shortage of air traffic controllers could make flying more dangerous. Our transport reporter Danny Lee joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

The rush into artificial intelligence - spurred by the success of ChatGPT - has propelled a handful of technology companies into market superstardom. Nvidia, SK Hynix, ASML and TSMC have seen their share prices soar as their products lead the market in the chips that power AI. Our tech reporter Mark Bergen joins host Stephen Carroll to discuss the scale of their success, and what could disrupt it.See omnystudio.com/listener for privacy information.

Donald Trump's election sparked a frenzy of optimism in the crypto world, but his much-heralded announcement of a strategic Bitcoin reserve left investors disappointed. The biggest digital token slumped further from its record highs. Bloomberg's Executive Editor for Crypto, stacy-marie ishmael joins host Stephen Carroll to explain why.See omnystudio.com/listener for privacy information.

World leaders have been left reeling by the flurry of announcements from Donald Trump since he returned to the White House. The US President has penalised America's allies, made overtures to autocrats, and thrown out international conventions. Markets, too, are increasingly uncertain about what the future holds. Bloomberg's Editor-in-Chief John Micklethwait joins host Stephen Carroll to discuss Donald Trump's approach to international relations.For more stories like this one go to bloomberg.com/explainersSee omnystudio.com/listener for privacy information.

President Trump's unconventional policies and high-stakes manoeuvres have shaken up global trade and security, now Wall Street is wondering if the global financial system may be next. The concept has been called the "Mar-a-Lago Accord" and its aim would be to weaken the US dollar to help American exporters. But the idea faces hurdles and pitfalls, so what would be involved in a "Mar-a-Lago Accord"? Our Global Economics Correspondent, Enda Curran, joins host Caroline Hepker to discuss.See omnystudio.com/listener for privacy information.

Talks over ending the Russian invasion of Ukraine have begun with a meeting between US and Russian officials in Saudi Arabia. Efforts to secure a ceasefire have accelerated since Donald Trump returned to the White House, and re-established contact with Vladimir Putin. How will Trump negotiate with the Russian President? Our senior writer Stephanie Baker, author of 'Punishing Putin', joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Environmental, social and governance rules have come under additional pressure since the election of Donald Trump as US President. American businesses have also called for the European Union to roll back its ESG regulations, and France and Germany have indicated they want changes too. But how far will these efforts go? Our Managing Editor for ESG Investing, Tasneem Brogger, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

It took just two weeks for Donald Trump to impose the first trade tariffs since returning to the White House. His move to impose levies on China, and threats to Canada and Mexico, have political and business leaders scrambling to rethink complex supply chains and assess the economic impact. But if relations improve, how easy are these measures to unwind? Bloomberg's Trade Tsar Brendan Murray joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Chinese AI startup DeepSeek shot to global fame after the launch of its R1 chatbot, seen as a rival to the likes of ChatGPT. But how disruptive will its apparently cheaper business model be to the global tech industry? Bloomberg's Tom Mackenzie joins us to explain.See omnystudio.com/listener for privacy information.

Donald Trump has started his Presidency by signing dozens of executive orders, taking action in areas from energy, to immigration, to withdrawing the United States from the World Health Organization and the Paris climate accord. How powerful are these instruments, and how can they be challenged? Bloomberg White House reporter Hadriana Lowenkron joins host Stephen Carroll to explain.See omnystudio.com/listener for privacy information.

Immigrants have long been part of the economic success story of the United States. Many economists and business leaders credit immigration for filling vacancies across the economy, but Donald Trump and many of his allies accuse immigrants of lowering wages and taking jobs from native-born Americans. He's pledged to crack down on illegal immigration and carry out the biggest deportation plan in US history. But what would that mean for growth, inflation and employment? Bloomberg Senior Editor Derek Wallbank joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Move over artificial intelligence, a new technological game-changer is coming. Developers of quantum computers say they will deliver huge advancements in fields from drug development to financial modelling. Some of the world's biggest tech companies, investors and governments are pouring billions into making them a reality. Our reporter Isabella Ward tells us what to expect. Hosted by Stephen Carroll.See omnystudio.com/listener for privacy information.

SpaceX recently cemented its status as the world's most valuable private startup, with a share sale that valued it at about $350 billion. Meanwhile, OpenAI's last fundraising round valued it at $157 billion. Despite huge interest from investors, these names are among many fast-growing companies which are opting not to list their shares on public markets. Bloomberg's Bailey Lipschultz, who covers how companies go public, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Iran has lost a key regional ally with the toppling of Bashar al-Assad's regime in Syria. Tehran's other proxies, Hamas and Hezbollah, are also weakened after over a year of fighting with Israel. What influence does Iran have left in the Middle East? Bloomberg's Head of Iran coverage Golnar Motevalli joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Here's Why host Stephen Carroll is in France this week covering the deepening political crisis that has gripped the country. We wanted to bring you a special episode of Bloomberg's Big Take podcast that he's been contributing to while there. We'll be back next week with a normal episode of the show.The Big Take: After No-Confidence Vote, France Faces Tumult and Uncertainty The government of French President Emmanuel Macron collapsed Wednesday after losing a no-confidence vote. The outcome brings the country one step closer to a far-right government — the one thing President Macron has sought to avoid at all costs. Bloomberg’s Stephen Carroll and Big Take co-host David Gura break down the current pressures on France’s government, what led to the vote and what we know about what comes next. Listen and follow The Big Take on Apple Podcasts, Spotify or wherever you get your podcasts.See omnystudio.com/listener for privacy information.

Central banks in the US and Europe have been cutting interest rates as inflation slows close to their 2% target. But while the price surge of 2022 is behind us, the outlook for the next year looks less certain. How will trade tariffs, a strong dollar or other shocks affect the outlook for prices? Bloomberg Opinion columnist Daniel Moss joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Public health experts have expressed alarm over Donald Trump picking a vaccine-skeptic to head the US Department of Health and Human Services. Robert F. Kennedy Jr.'s nomination comes as falling vaccination rates for diseases such as measles have led to a spike in cases globally. What's behind anti-vaccine sentiment, how is it evolving and what effect is it having on public health? Sam Fazeli, PhD in pharmacology and Director of Research at Bloomberg Intelligence, joins host Stephen Carroll to discuss.See omnystudio.com/listener for privacy information.

Crypto assets, including Bitcoin, have surged in value since Donald Trump won the US Presidential election. The President-elect has gone from being a crypto-skeptic to promising more friendly regulation for the sector. Our crypto reporter Emily Nicolle joins host Stephen Carroll to discuss whether the hopes are well founded.See omnystudio.com/listener for privacy information.

During his first term as President, Donald Trump imposed tariffs on around $380 billion of imports. He has now promised to go further, with a 20% levy on all imported goods and 60% on Chinese products. Bloomberg's trade tsar Brendan Murray joins host Stephen Carroll to discuss how and when the tariffs might come, and who needs to worry most What would YOU like to hear about on Bloomberg? Help make shows like ours even better by taking our Bloomberg audience survey.See omnystudio.com/listener for privacy information.

In 2020, it took almost four days to find out who had been elected US President. In 2000, the decision from the Supreme Court didn't come until mid-December. This year, a high number of mail-in ballots, the closeness of the race and new election processes in some states may mean it takes longer to determine a winner. Our Washington DC editor Magan Crane joins host Stephen Carroll to discuss. See omnystudio.com/listener for privacy information.

The popularity of nuclear power has seen major swings since the first reactor went into commercial operation some 70 years ago. As countries look for ways of securing their future energy supplies, interest in nuclear has been revived. Could power-hungry artificial intelligence be another catalyst? Our reporter Jonathan Tirone joins host Stephen Carroll to explain.See omnystudio.com/listener for privacy information.