"Central bank governor Zhou Xiaochuan was quoted by the South China Morning Post as saying: "The US dollar is unlikely to be stable next year and later."
a) Zhou thinks the dollar is going to become unstable because China is going to cut back on dollar purchases.
b) Zhou thinks the dollar's problems are so big that China won't be able to do anything about it.
I personally believe it is a combination of the two.
"And the likelihood of the United States issuing more money in the near future adds to the depreciation risk in US-dollar-denominated assets [China is worried about its massive holdings of US assets.] and trade settlements [Chinese exporters are worried about inking deals in a rapidly depreciating currency]."
Someday, will our paychecks (if there are any) be in Yuan?