It would be very hard to replace the dollar as much as China would like. The entitlement spending will eat our lunch long term, just like it has yours. The last thing the US needs is more programs for the able bodied but lazy. You would be better off spending money on helping parents with the rising cost of child care.Think of like this.... Massive Debts and rising so fast that Defence Cuts are made and the chinese metaphorically printing dollars to save Jo, but the cost will be america does nothing to affect Chinas rise.
Loose Talk is already a new central bank/digital currency to replace the dollar as reserve currency and that would be the end of america as the leading superpower.