Yes Virginia, The Chinese CAN Dump The Dollar

``I’m surprised how persistently I see the dubious assertion that the Chinese “can’t move away from the dollar because they own so many of them”. A related argument is that they are “stuck in dollars because of the trade deficit”. They certainly can move away from the dollar, though, by continuing to do what they are already doing. This will bring them to a point where they will be positioned to transition away from the dollar, possibly rapidly.''