Missing Money; Excess Monetary Liquidity; Asset Prices;

超额货币； 货币流动性过剩； 资产价格；

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It is concluded that monetary liquidity of China is in excess in recent years and monetary gap is growing by several measures of excess liquidity.

内容提要我国近年来存在流动性过剩现象，而且货币缺口逐年扩大。

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To affect a cure the Fed must reduce the excess monetary liquidity in the marketplace.

FORBES: Fact and Comment

If that gap persists, the problem can be addressed by supplementing payment of interest on reserves with steps to reduce reserves and drain excess liquidity from markets the second means of tightening monetary policy.

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While commodity prices are being fueled in part by excess liquidity chasing risk, as developed economies follow through with loose monetary policy, the dynamics behind emerging market currency fluctuations, especially the real, are traced out by their interaction with China.

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