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China is doing a lot of shit to undermine hegemony, but this is going to be the biggest and most important in the long run, imo. Fossil fuel imperialism and the petrodollar are absolutely fundamental to keeping countries trapped in underdevelopment. If countries can develop on the basis of renewable energy, they avoid the imperialist subscription fee of fossil imports that cripples nations all over the world and funnels massive wealth back to the imperialist fossil capitalists. They get power for cheap and forever without ever depending on the global north. And they do so without the infinite list of disastrous externalities fossil fuel burning produces.
Thank you comrade Xi Jinping
Indeed, energy sovereignty is an incredibly important aspect of breaking the hegemony.