Here as an example, I will explain the Bank of Japan’s recent attempts at unconventional policies, namely, the Comprehensive Monetary Easing (CME) in October 2010, and the Growth Foundation Strengthening Facility (GFSF) in June of the same year.
Meanwhile, the US and Japan seem to have responded to globalisation by increasing high-tech exports, which may be the path the euro area will have to take in the future.