That doesn't check out. Why would China try to push down the US dollar when the US is their largest export market? That would also damage all the effort they put in trying to devalue the yuan.

Good point.

Perhaps the Chinese feel secure their transition into a consumer economy is on good footing. I've noticed my China stocks go up 50% in the last month or two. Confidence is way up.

China and Russia are also big producers of gold. But if gold truly comes back, it will give a huge boost to Africa, which has most of the reserves.

That's true only of the well governed African states with inclusive rather than extractive institutions. Gabon's oil hasn't done much to boost the standard of living of anyone outside the Presidential circle though GDP has gone up a lot.

Yes. The money is likely not to be spent well.