We think the issuance of, and continuous improvement in eSDR can help establish a new cross-border payment and settlement system using a super-sovereign currency, thus easing flaws in the traditional monetary system. Yao Yudong More Quotes by Yao Yudong More Quotes From Yao Yudong China's exchange rate reform had nothing to do with the global stock market volatility, it was mainly due to the upcoming U.S. Federal Reserve monetary policy move, we were wronged. Yao Yudong business So we hope the Federal Reserve could further delay its interest rate rise, giving emerging markets ample time to prepare. The Fed should not only consider the U.S. economy, but should also consider the global economy which is very fragile. Yao Yudong business China's economy is in good shape. I'm very confident full-year growth will reach 7 percent. Yao Yudong business China has sufficient policy room and adequate policy tools to respond. Yao Yudong business China's high savings rate means China cannot provide liquidity to the world via the current account right now. Yao Yudong business
