Why would USD dominance diminish? Something like 90% of IP is based out of the US. Chinese education system is a complete joke (as evidence by brain drain).
Here is a good article by the IMF that gets into how various central banks are diversifying their reserves into a broader range of currencies. https://www.imf.org/en/Blogs/Articles/2022/06/01/blog-dollar...
How much of this IP heap is an utter trash like software patents and patents on black rectangles generated just to be added to a patent pool? From my (surface-level) understanding school-level education in the US has much bigger troubles compared to China, but luckily for the US it gets compensated (for now) by sucking brains from all over the world into the well established system of universities.
And it's not like China has no experience with playing extremely loosely with IP laws.