I don't understand how the digital yuan can be a competitor to the dollar if the Chinese government regularly devalues its national currency. In order to become a reserve currency, you need its stability, otherwise your savings will be devalued just like the yuan.
Well, we never know what's really going on with the Chinese government tbh. Me saying that they'll exceed the US dollar all came from what they've actually said, and could just be empty words of threat so the US would feel some form of pressure. Still, it isn't all without any backing, with how big the economy of China is, they have the potential to uproot the US from its place. That is if the US lets them.
I don't think we should overrate that to be the ruler of the planet.
It doesn't mean that you are reigning as the biggest economy, they would be able to do that. Despite the fact that China is the one who started this pandemic, they are also affected by this largely. Every country is affected by all of this, what we can do know is just take care of ourselves since as long as we are here, we will be able to restart.
Even if every country was hit, ngl, the current difference between how the US handled it and China handled it shows how China is able to recover from the pandemic. Not to mention that a lot of issues suddenly popped up from the US, with the racism protests as well as the upcoming recession of the US dollar which is in the near future now. China, on the other hand, was able to remove the virus, albeit temporarily and they're already managing the second wave and how to prevent/stop it from getting larger.