China accumulated the USD by exporting cheap crap manufactures to the West. That was when China was poor and backward. It worked to China's advdantages at that time. That was, therefore, unavoidable.

Having accumlated so much USD (and the Euro), China nowadays faces a DIFFERENT problem-- the same problem that caught Russia. In order to avoid that fate of Russia with regard to the USD, China must unload most of it. It is best done gradually but it has to be done. That doing so actually benefits the US is irrelevant-- as long as doing it serves China's objectives. Exporting cheap craps to the West also benefited the West but that was no reason not to do so in order to grow China's economy in those days.

If Australia or other countries want to hold the Yuan, let them do so. But unloading the USD is today's objective and should take precedence. Making the Yuan an international currency can be done at a later stage.