Could the dollar lose its reserve currency status?

Several factors are weakening the dollar’s reserve currency status: considerable monetary expansion in the United States, political tensions between the United States and many countries, rapid growth in US external debt, the risk of the United States losing its fiscal solvency. But could the scenario where the dollar’s share as a reserve currency falls slightly in favour of other reserve currencies shift to one where the dollar’s share falls sharply ? The problem is technical: there would have to be another currency that offered a reserve asset (risk-free, liquid , safe asset) to replace US Treasuries. This will only be the case in the future if the euro zone creates a large federal debt, of which we have merely seen the beginnings .