China is nowhere close to replacing the dollar as a reserve currency — and won’t be anytime soon | @elerianm

While on the dollar, this from The Economist article, “China is ditching the dollar, fast.” To be clear, China is nowhere close to replacing the dollar as a reserve currency — and won’t be anytime soon. 

 

What it is doing, though, is slowly eroding the dollar’s influence by building pipes around America’s (post World War Two) dominant role in the global system. 

Also, the US is hardly powerless in the face of China’s moves if it acts on what is gradually undermining the dollar’s global role.