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RE: Can China Dethrone US$ as Global Reserve Currency? ~ Steve Brown … (Death of the Dollar–34) with Link to Full Story
China now has a reputation that stinks with the aim of modernise slavery. If it were on the basis of economy and trade as well, china yuan would not still be used as a lot of countries are leaving for India. Moreover, the United States federal reserve Bank is operating democracy outside the US government but the Chinese central bank isn't the same. If US losses the spot of having the dollar as the reserve currency then euro takes over.
I cannot see how India, with its reprehensible caste system, would be in any way preferable to China.
Say what you will about China's autocratic leadership, but you cannot deny that it has lifted millions of people into the middle class. Granted, India has lifted many into a middle-class lifestyle, but percentage wise, far fewer than China.
As for the Fed "operating democracy outside the US govt," I can't agree with that. The US is now verifiably an oligarchy.