Stop saying that the Yuan will replace the Dollar as the global reserve currency

Due to President Donald Trump’s willingness to upend the global status quo, financial commentators and elite media outlets confidently predict that the status of the United States dollar is under threat as the global reserve currency. They say that China’s yuan may replace the dollar in that privileged position. The same voices insist that international investors and central banks are preparing to dump dollar-denominated assets.

Fortunately, these claims are laughable.