Yes, very interesting for sure. We do know a couple of things that appear to be coming to pass.
China and the U.S. are going to have some sort of break-away moment. Whether we continue to see a sort of a continued "cold war" between the two, which could escalate with sanctions or a significant loss of trade between both countries OR if events make for a "hot" war, which of course no one wants to see. A Taiwan invasion by China should push the envelope to such an event happening.
China should be initiating the first move, so we know they'll be positioning themselves before they make their move to have as little exposure to the dollar as they can without tipping anyone off. The scenario You gave is a possible way for them to mitigate that dollar exposure. Buying more gold and silver is another way. Buying commodities is another way. We know these things are already being done by China.
The $64,000 dollar question is when will China make their move? I would contend to do it when Dementia Joe is still in office might be a very good time, because of how inept his whole Presidency has been. China is all about weakness in your opponent and Biden certainly fits that category. China may still be wanting to see a stronger Yuan before they make a move, so they may be looking to get the new BRICS currency up and working prior to any military move on Taiwan. Xi will call the shots on when the move is made. He may already have it all planned out.
I think we can expect that once that event happens the world will have changed in a very big way. The countries standing with China probably won't be using dollars and the U.S.'s allies will be moving away from China and most likely will continue trading with dollars.
It's obvious that in the end the U.S. and the dollar will be the big Losers.
