re: China, Russia, India now setting up separate banking standards.

If China fully floats the yuan it would take a couple years for anybody to trust them with petrodollars. I also don’t think they will ever be comfortable with not having 100% control of their currency. They are not big fans of market forces making them do something they are uncomfortable with

They also have a real estate bubble that makes our government debt look like nothing. Throwing your currency out there fully and that time bomb could go off easily

Chinese are pragmatic. They will stick with the dollar. At the same time they will lead Russia, Pakistan etc in undermining the corrupt western democracies