In order for the Yuan to become the world’s reserve currency, China would have to have open markets, a fair and trustworthy rule of law, and a few other requirements. They don’t have those; right now there are capital controls in China (you can’t get your $ out of the country) and I think the conviction rate in Chinese courts is outrageous (like over 90%). They don’t have a just rule of law. Right now the IMF is working to have the SDR fulfill all the requirements to be a world reserve currency

That being said, the SDR is a basket of five separate currencies, and the Yuan is one of those currencies. I think either the SDR will be the world’s reserve currency, the world will be more decentralized so there won’t need to be a reserve currency, or Bitcoin will fulfill the role. I didn’t think Bitcoin had anything close to a shot several years back, but now that I understand the technology more & how network effects work, I think the possibility is much more real than people may expect.