I can see that the development of an alternate settlement system could virtually destroy the ability of the USA to conduct economic warfare against other countries. This would be a blow to US hegemony and to the elites who benefit from that status.

I think we can all see that. The question has been discussed here before, amongst others in connection with Chris Cook's assertions regarding Iran's potential petro-currency change. As in that instance, there is no evidence of anything actually happening.

No evidence in Dobbin's article either. A facile lumping together of the BRICS, as if they agreed and pursued the same agenda. An unlinked reference to "journalist Peter Koenig" (?) who states platitudes that don't back Dobbin's case up one iota. Russia is looking east, Dobbin tells us, but (further on) is ideally placed to detach Germany from Europe and the US. Er, East or West?

If we were reading these airy speculations in the NYT under the Moustache of Understanding byline, we'd be poking fun at them.