On the note of China, they are in fact conducting bilateral transactions with Russia without using USD outputs. So on top of the Russian currency reserves being emptied, China is willing to do business with Russia on their own terms.
Interesting side note, Israel is a major U.S. ally, and for the first time, they've adopted Yuan into their own currency reserves dropping their share of USD. It isn't just Russia that is diversifying their assets.
It's going to be a problem if the CCP's currency becomes the global standard.
This war showed us that maybe we should stop being reliant on the people we dislike. West dislikes china and Russia which is not a secret, I dislike them too, they are a dictatorship that pressures their people into horrible militaristic life, and there is no freedom if you ask me.
However, if you depend on China for all the products, and depends on Russia for all the energy, then go out and act as if you dislike them, then I am sorry but people will just go to them because they can provide what they need, instead of you just because you have the money for it. I wouldn't be shocked if Chinese Yuan became the main reserve currency at some point, not in short term, in short term they could only go up, but to be main will take a few years at least, maybe a decade.