In my view its not “China’s” choice. Out of their control. The Global central planners givith, (made them) and the central planners can takith away. (bust them) The central planners took it away from the USA a long time ago. And made China what it is today.
If you think about the 2008 meltdown it started in the USA because they took too much away, and the crash spread around the globe. Now, if you guys were the central planners, you would NOT under any circumstances, let the USA crash again.
My guess is the C/Ps are scared STIFF of the USA crashing and are purposely dropping the dollar, and starting to “take it away” from other countries, for the global economy’s best interests. In other words, for the greater good of the world, the USA needs a rebuild.