Is the “Petro-Yuan” a Credible Challenge to Dollar Supremacy?

Wolf Richter with Jim Goddard on This Week in Money:

China latest effort to get its currency to be used globally is the “petro-yuan.” Is it a credible challenge to the supremacy of the US dollar? If China dumped US Treasuries, what would that accomplish? And more…

Central banks around the world seem leery about the Chinese yuan. Read…  What Could Dethrone the Dollar as Top Reserve Currency?