Writing about the challenges confronting the new Chinese leadership in a recent opinion-editorial, Michael Spence, a Nobel laureate in economics and professor of economics at New York University’s Stern School of Business, made a number of observations that are arguably as relevant to South Africa as they are for China.

For instance, while “muddling through” – or, in the Chinese version, “crossing the river by feeling the stones” – can, at times, be the correct governing strategy, Spence argues that leaders also have to assess when “a bold resetting of values and direction is required”.

For China’s next President, Xi Jinping, feeling the stones would appear to be the safest option. But Spence believes such a course would, in fact, be perilous, with the “only safe option” being a “radical realignment of the Communist Party with the general interest”.

Such realignment should be premised on creating an environment that fosters inclusive growth and equal opportunity and eschews policies that serve to protect those with narrow, yet growing, influence and wealth.

For South Africa, a similar assessment has to be made. Is it wise to continue with an approach akin to feeling for stones, or is it time to swim?

Surely, if the governing party were to conduct an honest assessment of the prevailing state of affairs, it would conclude that a continued muddling along has both immediate and longer-term hazards.

It will no doubt recognise that corruption is undermining public trust and the legitimacy of government leaders. That cronyism is hampering effective delivery and advancement based on merit. That policy uncertainty is crimping investment and job creation. That narrow-based enrichment is sapping entrepreneurial energy. That indecisiveness over the country’s deteriorating health and education services is leading to growing anger. And that complacency over the unacceptably high levels of homelessness, joblessness and inequality is fuelling discontent.

To retain its popular legitimacy, the African National Congress (ANC) should be less caught up with the trappings of power and with batting away legitimate criticism and more engaged with building a credible strategy to deal with the issues that are worrying all South Africans.

A good start, possibly, would be for the ANC to fully endorse the National Development Plan at its upcoming conference in Mangaung and to use that as a tool for a “bold resetting of values and direction”.