Many people might see the fall of the dollar, as the reserve currency, as a horrible thing. The change wouldn’t mean a change in the way the world economy would work though, so it really wouldn’t matter. It would only mean a decrease in the prestige of the United States, which has been going on since the collapse of the Soviet Union.
The only thing it would change is the ease of using the dollar around the world. Now don’t get me wrong, that would suck, but overall we would still have one of the largest economies in the world, and we would still be a powerhouse throughout much of the world.
Plus this is something that might happen in the future. Which, is impossible to say if it really will. The course is set, but it isn’t defined. When New York City became the economic capitol of the world, it took a world war to pry it from London’s fist. While this economic crises may seem to be doing the job, it still has to divert a lot of America’s resources to China. Let us hope our government doesn’t give even more away.