Here's an interesting sign of China's being a part of the adult table of world finance; the World Bank is starting to issue yuan-denominated bonds. The World Bank does development projects in developing countries, and China has grown to the point where they are now donors to the Bank rather than getting aid.
Given the large stash of T-bills and other investments Beijing is sitting on, lenders can be fairly sure that they can get other hard currencies for the yuan. This development isn't bad for the US, but is a good sign for China's financial status.
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