China hesitant to fully abandon USD in de-dollarization efforts

China is unlikely to push for the yuan to become the dominant global reserve currency due to its unwillingness to liberalize its currency and allow money to move freely in and out of its economy, its inability to run a persistent deficit like the US, and the geopolitical risks it faces. Instead, Beijing is likely to focus on breaking up US dollar dominance in parts of the world and pursuing its sphere of currency influence among countries it trades with actively.