Griping about the dollar’s status as reserve currency is a little like griping about summer. Yeah, it’s hot and muggy, also kind of inevitable given the global climatic conditions. China is, and insists on remaining an illegitimate state with a thoroughly compromised central bank, court system, and no political mechanism for the regular and orderly transfer of power. No smart corporation or nation will trust China farther than they can throw China. The EU made noises about becoming a true global power, it doesn’t now look like they can organize as a powerful state rival to the U.S. Asia is fragmented into smaller nation players, Africa and South America the same; there is only one global power that can maintain a “full trust and credit” large enough to back a reserve currency.