the Yuan would be a respected currency if they floated it. The last (the current) share market correction was precipitated by the realisation that china is prepared to make large adjustments to their currency and everyone else has to wear it.....but this is to their detriment of ever having commodity trades done in the yuan at large scale. Mind you, it does relieve them of the risk of traders manipulating their currency, so perhaps it is worth the sacrifice. However, even the russians are removing their pegs and heading towards a freely floating currency.
