https://www.yicaiglobal.com/news/china-ansteel-rio-tinto-settle-first-cross-border-iron-ore-deal-in-yuan-https://www.reuters.com/article/us-china-baowu-bhp-idUSKBN22O0LZIron ore which is our biggest and growing export to Chinais now being
traded in Yuan (Rinimbi) cutting out the USD as the medium of exchange.
Like the Suez Canal war being the catalyst for the demise of the Pound
Stirling as the global reserve currency , IMO the Trump regime may
be seen later as the catalyst for the demise of the Greenback.
The Trump regime reset the US policy on China from that of being
an emerging market based economy to that of being a hostile
CCP command economy and the ensuing trade war will have a clear
signal to China that if it wants to retain its Global lead intrude, then
it simply has to rid its trade transactions of the USD.
IMO that process is happening right now and the big test will be
when China insists on the removal of the USD from its oil & gas
purchases.
Sadam Husein tried that in the early Zeros but of course his regime
came to an abrupt end shortly afterwards. IMO, China will be keenly
aware of that.
https://www.theguardian.com/business/2003/feb/16/iraq.theeuro
