The RMB has been the third most powerful reserve currency for a few years now. The EUR will exceed the USD in the next decade.
If we default the Chinese will try to exceed, but the country has more government debt in relative terms than we do. Their government may be sucked into defaulting.
BTW I want a factory buildout and higher taxes, but if we are going to default many factories will be shuttered. Now might not be the time for a factory buildout. Ya think?