Certainly. Thank you.
Yes, Japan is a pretty significant trading partner for Canada. It always has been. It's become habitual, in fact, for economists to say, “Oh, and Japan has continued not to grow for 20 years or so.” But what seems to be happening now, and we're certainly watching this with intense interest, is that the new monetary policy there is directly aimed at breaking what I would call a logjam—people who've been stuck in deflation for most of their adult lives, people in their forties who have not purchased a home or something like that, just because of the way the market is dysfunctional there.
Moving that model forward could have significant implications for the world, including ourselves.