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"But Japan is spending money in a way that delays the need for structural adjustment, and in that case, the money is wasted".
America and Europe used to preach to fiscally profligate developing countries about the need for structural adjustment.
Back in February, a hundred billion Euro debt guarantee could have scared the speculators and bought Europe enough time for structural adjustment.
A number of countries proved to be quite receptive to this idea but it appeared that IMF conditions for structural adjustment often prevent this.
Jean Ensminger, "Structural Transformation and its Consequencies for Orma Women Pastoralists," in Structural Adjustments and African Women Farmerd, ed.
The focus is less on structural adjustments or institution-building and more on crisis management".
In both cases, creditor institutions pretended that sustainability could be regained through "structural adjustments".
"It's time for China to make structural adjustments and move out of low-value-added, heavily polluting industries," says Fred Hu, a managing director at Goldman Sachs.
The fund's board said it was time for Europe to make structural adjustments to its labor and pension systems and invigorate its sluggish economies.
We've fought these issues in the developing world for years: structural adjustment, leading to low pay, insecure work or privatised public services.
Robin D.G. Kelley described this predicament in "Playing for Keeps," as part of structural adjustment programs and deindustrialization processes that plague poor communities of color beginning in the 1970s.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com