Japan's economy is still recovering so Abe shouldn't overreach

JAPAN'S economy is rather like the proverbial duck that appears to glide effortlessly across a pond while paddling furiously beneath the surface to maintain momentum. It is a valid question to ask how long this sleight of hand (or foot in this case) can continue.

The impression of smooth sailing is given mainly by Prime Minister Shinzo Abe who seems forever to be promoting the idea of a "new Japan", or at least a "Japan that is back", and one that is up with the best in everything from economic management to diplomatic and military capability. But it is well to remember the words of Frederick the …