According to a guest on Bloomberg News, digital/crypto Yuan/RMB will allow anyone in the world to use Chinese currency without needing a Chinese bank account, when China launches this in 2022, will this reduce the dollar dominance in a big way?

Yes, the acceptance of the Chinese digital currency may be the beginning of the end of the US dollar dominance.

According to the upcoming book of Ray Dalio on the cycles of rise and fall of global empires in the last 500 years the US is currently in the decline phase and has around 30–40 years left of the global dominance.

Of course the US is not going to passively accept the loss of status. The current trade war with China may escalate, and may possibly transition to a military conflict…

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