[sgbuffett]

Undoing the dollar is not so simple.

People forget why the Bretton Woods agreement was set up in the first place. Before that currency panics and collapse was common. By the new structure using a common exchange  currency the global economy can move forward.

If you go back to the old state, you go back to pre Bretton Woods....if your govt mess up and your currency get wipes out, you have no way out as there is no lender of last resort it will be disastrous.

Over time Yuan can become a common Exchange currency provided the Chinese economy become as large as US or Eurozone. The Yuan now is a controlled currency with on shore and off shore Yuan. This has to change for Yuan to be an international.currency. But China has no confidence to open up and allow Yuan to freely flow out because internal financial structure is unstable due to high debts ...it has to worry of market forces if there is alot of Yuan outside China it can be traded down and bring down the economy like in Asian crisis when Thai Baht collapse.

Despite the constant cheering of Chjna fans for dedollarisation it is unlikely we see it in our life time.
But China going around the world to undermine USD will put a big target on its back for US and Eurozone to shoot whenever there is opportunity.