No nation will ever dump all its dollars. no nation would ever put itself in a position where it cannot buy oil on the open market.
Oil will soon be denominated in Euros.
In the above argument between Al and Goldie, I would have to agree with Al. Those who rule China couldn't care less about the opinion of the outside world or of a mere 100 million of their subjects. Its a cultural thing, and they have a fairly awful culture. Not the worst in the world, by any means, but a fairly bad one. And halitosis. I could barely stand to go indoors when I visited Singapore!