Jeff,
Change was inevitable. The method could have been better. But it was coming anyway.
If you look at the chart, based on PPP, China has had the largest GDP for a decade.
Let that sink in. For the nominal gdp and the nominal gdp to balance out on the linked chart, The yuan has to double in value compared to the dollar. I would expect that at some point this will balance out.
I will note that sometime in the 1870’s the USA became the largest GDP in the world, but it was 40 or 50 years later before the rest of the world STARTED to come to grips with that reality.
I believe we are experiencing the Chinese curse of living in interesting times.
Cheers
Qazulight