The bond markets are back in British politics and have made Rachel Reeves’ job even harder. The Chancellor has headed to China amid a backdrop of warnings over market turmoil, stubborn interest rates and the prospect of public spending cuts. But how much of it is her fault? In the short or long term? In this episode we talk to Ruchir Sharma, the author of (so Lewis says) one of the best political books of 2024: 'What Went Wrong with Capitalism'. It is a sharp critique of left and right, but also says that, in their own way, they’ve both got a point about how lousy our economic model has become.

Editor: Tom Hughes

Executive Producer: Louis Degenhardt

Producer: Natalie Indge

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You can watch Lewis's special report on the abortion crisis in America here: https://www.youtube.com/watch?v=df5BCL0ocFE

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