I hope that these regional cooperation efforts will prevent the occurrence of financial crises or foster the capacity to manage crises effectively if they occur. E.  Impact on trade relations with Asia  Finally, I would like to offer some remarks on the impact of QQE on Japan’s trade relations with the rest of Asia.
There are positive aspects of QQE on Asian economies, since economic recovery in Japan is likely to encourage imports from the region, contributing to an expansion of regional aggregate demand. On the other hand, some have expressed concern about possible side effects of QQE, in that a further depreciation of the yen may intensify competition between firms in Japan and those elsewhere in Asia.