The top 10% own more than 50% of the assets. If the billionaires actually have class solidarity they will simply keep owning dollars and stomach the losses from China selling their government bonds. Chances are that everybody else keeps their bonds because the US still have some influence.
I would guess that they could also put China on an embargo and just reject to trade their bonds, much like the EU does with Russia.
The US have killed Gaddafi for creating a reserve currency for Africa. Trump would be dead if he actually would be threatening the dollar.
The top 10% own more than 50% of the assets. If the billionaires actually have class solidarity they will simply keep owning dollars and stomach the losses from China selling their government bonds. Chances are that everybody else keeps their bonds because the US still have some influence.
I would guess that they could also put China on an embargo and just reject to trade their bonds, much like the EU does with Russia.
The US have killed Gaddafi for creating a reserve currency for Africa. Trump would be dead if he actually would be threatening the dollar.