They are putting forwards a proposal for bilateral trade (and have proposed a dynamic basket of currencies as a reserve previously). The alternative being explored is not a 1-1 replacement of the USD with the Yuan.
Additionally, from the perspective of much of the world, the US has been engaging in pretty sizeable currency manipulation in the past 3 years.
Additionally, from the perspective of much of the world, the US has been engaging in pretty sizeable currency manipulation in the past 3 years.