Well trump can see that others want to use other protocols than the petrodollar but he is using threats of tariffs and military force to prevent them choosing other MoE. That's not a free market approach - that's a dictator bully - that's Trump. Trump the insecure dictator bully trying to sustain the USA petrodollar empire by preventing others choosing other payment systems.

BTW print as much USD as you like China controls the refining of rare earths to such a high degree that USA cannot fight a war or manufacture most of the high tech products that it still can make without China supplying the rare earths essential to those products.

China is already refusing to supply any rare earths to any potentially military end use. USA military is effectively crippled already. Great own goal bully Trump!

China has won the trade war- US military industrial combine is defeated.

Central banks are buying gold not USTs- they are in no rush as a gradual transition is preferable to a sudden collapse.

Iran and Russia already trade on the Chinese payment rails CIPS and mBridge and Saudis and others are joining them over the next few years. Steady as she goes- US empire is dying and Trump knows it.