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I think, as an overall, we must realize what is truly important, that is, the teaching will always be greater than the teacher. Even the Buddha is no comparison to the Dharma. Even on the Buddhas deathbed, when His disciples feared that the light-of-the-world was about to go-out, the Buddha reminded then of the power of the teaching. As long as the practices of the teachings continue, the light will always shine!!
The Buddha told Ananda that when the Dhamma has been completely forgotten a new fully enlightened Buddha will arise. He is called Maitreya. I'm here quoting Ven. Sri. Dhammananda when he says in his book What Buddhists Believe on page 76:
...The Buddha continued again: "I am not the first Buddha to come upon earth; nor shall I be the last. In due time, another Buddha will arise in this world, a Holy One, a Supremely Enlightened One, endowed with wisdom, in conduct auspicious, knowing the universe, an incomparable leader of men, a master of devas and men. He will reveal to you the same Eternal Truths which I have taught you. He will proclaim a religious life, wholly perfect and pure; such as I now proclaim."
"How shall we know him?", asked Ananda.
The Buddha replied, "He will be known as Maitreya which means kindness or friendliness."
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I am in no position to speak for the Dalai Lama, though personally confident that he will never abandon Bodhichitta. But I think I can partly answer your question even so. Choosing not to be reborn as the Dalai Lama of Tibet says nothing about whether he might choose to reincarnate in some other form and position that is of greater benefit to beings, and in particular better serves the further development of Tibetan politics and culture. In other words, it certainly doesn't follow from HHDL's statement that he has foregone reincarnation altogether.