First off - thanks for the assessment
Secondly - China... how can I explain it in a simpler way....It is probably more accurate to say that China wants to create a "world currency of the second world under the guise of the first world". Let me clarify what I mean. In order for a currency to become a "world currency", it is necessary not only to desire it, but also to create a lot of conditions. From political and military potential, to influence on the world economy, leadership in technology, conditions, ..... and a dozen other indicators. China now has only a little - a lot of population, a lot of problems, ties with dubious regimes, building a totalitarian regime.... and that's it! Against the background of US advantages - it looks, to put it mildly, "very small".
But China found a group of countries (and hesitant), where logic and reason were replaced by populism and propaganda, and where China was able to slip them the yuan on the wave of absolutely fake hysteria "dedollarization" ! No one else needs the yuan ! From the word ABSOLUTELY NOT NEEDED ! But the export of economic problems through the yuan - for China is an option to solve the problems of domestic economic problems, at the expense of the economies of these victim countries, and officially "friends of China ...
Thirdly - yes, China is the largest holder of US government bonds, and is now increasing their volume again, which is easy to check !
Thanks for your valued comments. China is a fascinating case of study for the students of Economics and political science. They wonder how could China became a global factory, achieved a remarkable progress with highest GDP growth rate, and has largest foreign exchange reserves which no other country can match, almost everybody is employed and population living below poverty level is almost zero. China has achieved all this with one party rule and no freedom of speech for citizens. Figuring out , how China did all this in a particular political and economic set up is a big question.
