Japan’s Abenomics and the world economy

Japan is still the world’s third-largest economy, but has also been stagnating and idling for twenty years. Now a new government led by Shinzo Abe has come to power pledging to take dramatic steps to turn the situation around. The potential rewards of this policy are high, but so are the risks – and not just for Japan but the whole world economy. Martin Wolf, the FT’s chief economics commentator and Jonathan Soble, Tokyo correspondent, join Gideon Rachman to discuss the consequences of Abenomics.