You’re arguing based on transients rather than fundamentals. Yes there is a certain amount of pull to the US. Note however that the foundation has been laid to get off of US currency. Sure it’s small now but the WB has just issued it’s first bond in yuan.
HONG KONG (AP) — The World Bank is issuing its first bonds denominated in China’s yuan in Hong Kong, joining a growing number of borrowers tapping the new debt market as Beijing gradually promotes its tightly controlled currency abroad.
They are setting up the mechanisms and getting over the initial learning curve. When confidence in the US is lost there will be a great sucking sound towards China.
It makes you wonder why we even have a Navy. If China can ruin us now, what good is a F-35B?
I’m watching the Euro and the Yen. When both start falling out against the dollar (as in EU being 80 cents on the dollar), then it will be time to worry about the US.
Fiscal problems will crop up there first, and spread to the US, not the other way around.