The article looks at how the US and Japan's unconventional monetary policies affect other countries, especially emerging economies. It uses a theoretical framework to predict that the impact of easing policies on a country's economy can also affect other countries. The US Federal Reserve's Quantitative Easing had mixed effects on emerging economies, while the Bank of Japan's Quantitative and Qualitative Easing had a positive impact without negative consequences. The paper suggests that better communication between central banks and the market, as well as stronger global financial safety nets, are important for promoting stability in both developed and emerging economies.