Ella 
At present, the weight of the RMB as a reserve currency and international trade currency is still very low. Can the renminbi become a reserve currency and invoicing currency for large-scale trade that competes with the US dollar?
If the RMB cannot become a reserve currency, it will be difficult to become a trade currency.
The renminbi is not convertible, is not backed by a large and liquid government bond market, and is not issued by a country (China) with an external deficit and debt: therefore, the renminbi does not have any characteristics of an international reserve currency, while the US dollar does Has all these characteristics.
It would also limit the role of the renminbi as a trade invoicing currency: countries exporting to China in renminbi would not be able to keep the money they earn from trade, and the only possible use for this revenue would be to buy Chinese products.
