Presumably for the USD to lose reserve currency status some other currency would have to become more attractive as a long term bet? Are there any obvious candidates at the moment?
Not necessarily. Reserve currencies facilitate international trade and finance, things which may not exist in their present form without the United States. There is no rule saying the world must have one.
Everyone could wind up owning their trading partners’ currencies. We could revert to a commodity standard. Or free trading zones could emerge with synthetic currencies.
https://qz.com/africa/1291372/chinas-yuan-gets-support-from-...
In the early days its easy to be unimpressed and rightfully so, but its certainly a signal of potential change in the order of things.