China could very well accelerate its plans to come up with alternatives to the world’s dollar-dominated international payments system, after seeing Russia becoming isolated economically, according to Federal Reserve Chairman Jerome Powell. Powell made the assessment on March 3 during a Senate Banking Committee hearing, when he was questioned by Sen. Jack Reed (D-R.I.), who is the chairman of the Senate Armed Services Committee. “I think the Chinese are particularly interested in the fact that we’ve been able to assemble a global coalition to basically shut down the Russian economy,” Reed said. “And they will start thinking about how they can avoid that fate if they get into similar circumstances,” the senator said, before adding that China “will look very closely” at the “whole issue of the dollar as the medium of exchange to the world.” While the senator did not elaborate on what “circumstances” the Chinese regime might get …