For the Yuan to become a major reserve currency, they will have to EXPORT a LOT of Yuan (by importing foreign goods).

Triffin explained this all long ago: https://en.wikipedia.org/wiki/Triffin_dilemma

China has not been interested in importing much, and they would have to run trade deficits to supply the world with large amounts of Yuan.

~~~~~~~~~~~~~~~~~~~~~~~

SideNote: The Shanghai International Energy Exchange is just another step towards replacing the dollar as a international currency. The past 10 years we've seen many countries sign deals between themselves to buy/sell products in their own currencies so they can by passing using the dollar. It will take a culmination effort of all countries combined together to bring about a new world currency to replace the dollar. But they have come along ways to achieving their goal. Nothing happens over night. Before that happens, I believe we will see a world wide trade embargo (the iron curtain) against the U.S. so they won't be able to trade with any other country, thereby quickly distroying the country. So that communism will finally rise to rule the world as long planed. But up til now, the U.S.A. has stood in their way. GRIM REALITY