Jim & Ray interview former U.S.Ambassador Ted Osius--now the President and CEO of the US-ASEAN Business Council--about the importance of Southeast Asia's rapidly growing economies, especially as companies seek to de-risk away from China's deteriorating business environment. They discuss the growth and potential of Southeast Asia, the opportunities for US investment in the region, and the continuing challenges faced by American companies who want to operate there. They also touch on America's failed involvement with the Trans-Pacific Partnership, and how that has negatively affected its economic opportunities and strategic position in Asia. They further discuss ASEAN's role in regional politics--what it can and can't do in the economic, diplomatic and security arenas.

In this episode's "There I was..." segment, Jim recalls how as diplomats in Jakarta he and Ted would meet regularly with a wealthy Indonesian businessman who often had an axe to grind.