The thing is that there is no alternative to the US dollar so the situation will remain until there is. Think about it, gold is not practical and there is not enough of it. Btc is not used widely enough and can be difficult to trade for other currencies, the euro is too risky especially with crimea etc and the rmb is pegged to US dollar and has too much political risk associated with it. So the question is which government is least likely to default either explicitly or by stealth. The answer is the US, we may not like it but that is the situation. If you don't believe it ask yourself if you had to move all your wealth into one fiat currency (outside your home currency if you are not a US citizen) which would it be. If your answer is something other than $US then I would like to know which one and why?
There are plenty of alternatives, albeit not right now.
The most realistic one being a gold-backed CNY (Renminbi) as this is the only country actively preparing and pushing for exactly that, even in a very open manner.
All other nations aware of the impending and unavoidable paradigm change only repatriate their gold holdings from abroad to prepare.
To some extend they stopped buying US treasuries (which they know can and will never be repaid, this is already mathematically impossible) or even became limited net sellers of these, while increasing their gold holdings.
BTC is entirely out of the question, in the big scope of things I personally view it as a temporary, technological and social experiment.
The only thing keeping the US Petrodollar still alive is the US military force & NATO proxies and the Federal Government's clear message that it will use it indiscriminately against anyone who opposes the US Dollar's role of global domination.
Since operating this insane amount of military might is budgetary suicide and unsustainable over the next decades, the empire running it will eventually fall like many others before it.
My personal opinion is that China is preparing and patiently waiting for exactly this moment.
I also come to think that - given the intensity of US preparations domestic & abroad - the US itself projects its downfall to occur maybe already this decade.
The only question about the end of the US Dollar dominance is in what way it will vanish - with a blimp or with a bang.
I count on the latter, unless the powers that originally crafted it have already prepared to abandon ship at the right time, while sabotaging the old dying empire at a critical junction.
Some argue they - behind the curtain - are exactly doing that already and are just looking to jump ship when the time is right, in the meantime running the USA into the ground economicaly.
These rats behind the curtain that fear the daylight will never stand & fight, they always lead proxy wars and will disappear the second they face direct and life-threatening opposition.
But before they can do that, they need a petsy to blame. Usually, then while their muppets are fighting their wars, they'll silently switch sides.
In theory, however, it's also possible that the US will attempt to maintain and enforce its dominance over at least the western hemisphere, while the eastern hemisphere may look towards China. For as long as they are able to maintain military control over the most important global resources to feed its empire, this could play out to be a realistic scenario for quite some time.
AirForce Vision : Global Vigilance, Global Reach, Global Power For America(
http://www.airpower.maxwell.af.mil/digital/pdf/articles/2014-Mar-Apr/SLP-Welsh.pdf )