While stocks plunge on investors" fears over tightening credit in China. the U.S. Federal Reserve has decided to maintain its current interest rates near zero until a sustainable economic recovery is underway. When the recovery is in sight, U.S. demand for imports will soon return, raising hopes for China"s export sector-but a possible U.S. dollar rally may also cause capital outflows from emerging markets where hot money has pushed up assets prices.Yuan Zhigang,Dean of the School of Economics in Fudan University, spoke with 21st Century Business Herald about the efficiency of liquidity, and pro-vided solutions to asset price hikes. Edited excerpts follow:

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