So there may be a payback element to the US and European shrillness about how important it is for the Japanese to use aggressive fiscal stimulus to get their economy going again and to restore confidence by drastic and immediate restructuring of their banking system. Neither is going well.
South Africa’s social challenges mean we need to be extra careful about managing the system carefully so it doesn’t blow up – not that we need to run the system as hot as we can get it and hope for the best. Finally, don’t ignore populists completely.