That is probably not gonna for atleast 50-60 years cause China will remain laser focused on first island chain. And even if China developed a large navy with 20 aircraft carriers, it will still not match US power projection capability.The last piece to toppling the USD is China's military projection powers exceeding that of America's
Why? Because you need bases and allies. US is an empire and has literal vassals all over the world. China does not have that.
US has so much power because it has established itself literally on the world system. China is still an outsider.