Thank you for an informative set of posts on this issue which is a direct challenge to the hegemony of the U.S. empire over the global economy.
China has started a process that will take many years to come to fruition and will mean that the yuan is a much more liquid and globally used currency.

The global economy stands upon the brink of another devastating economic crash. The volatility in global stock and bond markets has been triggered by the rising cost of short term debt for banks and corporations. The 3 month Libor rate has been spiking this year. See the chart below from the Fed:

If it continues to rise then it will blow the Fed's plans for more interest rate rises out of the water. Keep an eye on the bond market and follow where the big institutional money goes. The global economy is so fragile and interconnected it cannot withstand any real increases in either public (via central banks) or private increases in interest rates. Rising interest rates will blow apart the current economic 'recovery' and plunge the world economy into a devastating crisis. Prepare yourselves now for what is to come