Modest implications. No more than the Euro or Yen at their peaks did.<p>No, it&#x27;s not even remotely close to the end of the dollar as the international norm. The dollar is stronger today than it has been in 20 years, and it&#x27;s gaining strength as the Eurozone and Japan are a mess.<p>The most likely outcome to this, is that the Yen loses the position it has held on the global stage for the prior 30+ years or so. Japan is the nation that will suffer the most as China&#x27;s currency rises. Right now Japan is depending on the Yen as their only remaining prop to use against their debt; the weaker the Yen&#x27;s global position, the less they can spread that debt monetization cost around. China&#x27;s currency will become the dominant Asian currency; the Euro will remain the dominant European currency (unless something unexpected - and worse than it has already absorbed - happens to rip the union apart (that could be Finland bailing, triggering other nations to leave as well)); the dollar will remain the global reserve currency (there needs to be one, and the West is far more comfortable with that scenario than becoming more reliant on China, as are Japan and numerous China competitors in Asia).