When the influence of private capital exceeds that of a sovereign state, it raises an important question: Where does real power reside? Increasingly, it seems, money makes the world go round. At a time when stocks are over-valued, bond yields are flat, and property prices are inflated, private equity is where it’s at.
Indeed, since the chaos of the 2008 Global Financial Crises, PE firms have only grown in size and influence. Asia has been a key beneficiary. And China – until recently – has absorbed the lion’s share of private capital. As and when US-China tensions subside, the surge is likely to continue
In this week’s episode of Inside Asia, I speak to one of the PE industry giants - Weijian Shan, Chairman and CEO of PAG Group. Shan’s new book, Money Games: The Inside Story of How American Dealmakers Saved Korea’s Most Iconic Bank, is a tale on how deals get done in the convoluted world of big money and big personalities.
It’s been over 20 years since Shan and his colleagues at Newbridge Capital landed in Seoul to rescue Korea First Bank, but he tells it like it happened only yesterday. The transaction is epic in both size and circumstance. But it also speaks to the central importance of developing personal trust and accountability to offset fears of xenophobia and big money exploitation. It also speaks to the enormity of PE as a vehicle for rescuing distressed businesses – a point not lost in these pandemic times.
Silicon Dragon: China, Tech Race, Jack Ma, Leadership
William Overholt: Asia's Miracle Economies and the Question of China's Liberalization
James Barrat: The Intelligence Explosion - AI and the Coming Cross-over Point
Wendy Cutler: US China Trade War
Singapore Hospital Hack
Bill Cornwell: Solving Family-Business Factor in Asia
Timothy Reuter: The Drones are Coming
The Trump-Kim Summit
Adam Schwarz: Trump, Trade, and Asia
Brewer Stone: China Tech
Hans Vriens: ASEAN Political, Economic and Governmental Insights
Tim Gocher: Nepal, Impact Investing, Frontier Markets
Julian de Salaberry: HealthTech in Asia
Olivier Legrand: The Other Social Network
David Hoffman: Xi Jinping, China, Trade War?
Peter Wall: The Crypto-Mining Gold Rush
Steve Okun: Trump, Tariffs, and Trade in Asia
David Emmett: Conservation International and Solving the Environmental Crisis in Asia
Jim McGregor on Xi Jinping: Imperial Flashback or Authoritarian Checkmate?
Peter Kennedy: The Commodification of Water
Create your
podcast in
minutes
It is Free