Jim and Ray welcome retired Major General Mick Ryan, Royal Australian Army and retired Rear Admiral Mike Studeman, U.S. Navy to discuss the importance of defending Taiwan. They highlight the profound consequences of a Chinese takeover of Taiwan and its implications for the United States, Australia and the region. They emphasize the need to communicate the significance of Taiwan to the public, and to strengthen deterrence against China's aggression. The conversation explores the challenges of deterrence in the modern age and the need for a comprehensive approach that goes beyond military capabilities. Mick discusses his recent book about a hypothetical war over Taiwan and the importance of land operations in the defense of Taiwan.

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.

Jim and Ray interview the Philippine Coast Guard's spokesperson for the West Philippine Sea, Commodore Jay Tarriela, about China's continuing harassment of Philippine ships at a time when the mist of the previous day's water-cannoning near Scarborough Shoal was still dissipating. They discuss the importance of countering Chinese aggression and protecting the international rules-based order. They ask Jay to weigh the benefits of the Philippines' transparency campaign against its risks, and to comment on ASEAN's reluctance to publicly back Manila in its maritime struggles and its inability to produce a South China Sea Code of Conduct.

They also laugh and lament over the accusations by Beijing's propagandists about Ray's supposed manipulation of Jay and the Philippine government.

Finally in "There I was...", Ray tells the story of the eruption of Mount Pinatubo in 1991, when he and his new bride were evacuated from the Philippines.