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" ... The U.K. is second to Hong Kong as the top offshore RMB economies based on inbound and outbound transactions. Hong Kong accounts for over 75% and the U.K., in a distant second, accounts for 6.7%, followed by Singapore at 3.5% and then the U.S. at 2.8%. That the U.S. is so low on the totem pole, despite being China’s most important trading partner, suggests the RMB is totally outmuscled. They would need the Europeans to opt into more trade settlement in renminbi than in dollars for China to make a dent in the greenback anytime soon. ... "