No.
Modern China was created by america, through the Nixon accords (1972).
It is China which produce america Apple phones, as well as Tesla cars and batteries (among many, many other things).
China has five thousand billions dollars of dollars, in his foreign exchange reserve. It's destiny is tied to the dollar.
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No. While America had a role is moving industrial output from America to china, China's R&D and manufacturing capacity outways the the West's immeasurably. This threatens the west.
This is why bankers are talking about moving industry from China to India. For example, apple seeks to move iPhone manufacturing from China to the Indians. China is now uncontrollable. China enslaves muslims in Xianjian. It removed jewish religion rom list of official religions and has banned freemasonry. It is gainst mass immigration and various international treaties. I can only think of one country that has done that and it was destroyed within a decade.
As for American dollar reserves, that does not matter. As china is homogenous it can value it's worth in terms of Labor not banker currencies. Exchange can be made with its human capital (Labor) not it's usd. However, if china does that like one other country did so many years ago, then it's fate will be sealed.