We need to conduct policies so that many people can enjoy the positive effects of international trade and capital flows on growth and productivity gains, while minimizing their potential negative impacts. Second, we need to be forward-looking in preparing for policy responses to medium- to long-term challenges. For instance, under Japan's presidency this year, we will discuss policy responses to aging.
The process of effective consolidated supervision involves qualitative as well as quantitative dimensions. Supervisors must therefore be aware of the ownership structure, the overall organizational structure, the corporate governance and risk management systems and all material risks within a conglomerate.