Yeah, the costs of changing are greater than the costs of staying the same. But the basic idea of using a nation's currency as global reserve currency is a bad

Yeah, the costs of changing are greater than the costs of staying the same. But the basic idea of using a nation's currency as global reserve currency is a bad design. "Triffin Dilemma" - a national currency used in a global context will always result in spiralling imbalances. Some China guy cited this as a proximal cause of the collapse in 2007-2008 and I don't think anyone would argue with that at all[1]. So there's a pressure to move to an OCA/OCR (optimum currency area or optimal currency region) that's more like "The World", even if that's a hypothetical space. I mean, look at the United States today, aside from extractive industries. It's pretty much a military humping/fighting a financial industry on these teeny tiny little fast food legs. That's exactly what you would theoretically expect from an economy that's been the global currency for a couple generations, but it's a damn weird shape to bend your nation into. The solution is not crypto, but definitely an analytically-arrived at unit that's redeemable in a bucket of commodities via a real World Bank structure. Maybe crypto could be a part of that, maybe a "carbon coin" or some other quantitative measure of future value. All this waffle spells the lie to the "international capitalism" story we've been telling ourselves - without World Cops, World Courts, World Laws, there is no World Market. It's bandits in Brioni with nukes and red tape. [1] Although, of course, yes yes yes, his motives are suspect, but his statement was not. He wants the Yuan but no one else should.