No, I don’t believe that the yuan is going to be the new reserve currency. A new reserve currency is coming notwithstanding.
I think the dollar is going to be the reserve currency for the indefinite future, for the simple reason that there is no better alternative. What’s going to replace the dollar?
The yuan? Endangered by a massive housing bubble and a slow decrease in Chinese economic growth. The Euro? They’re worse off than we are, and backed by many entities that could decide to independently pull out. The Rouble? Russia’s economy is one tenth of ours, and is almost totally dependent on oil and gas prices remaining high.