China has always tried to make their currency cheap to strengthen their exports and to create jobs.
But if they think America will be in a depression like that of Japan...and this is a dead cat bounce in the USD... They may want to start buying American goods with their strong Golden Renminbi.
Of course then their exports would be non existent... Much like the USA now.
But if the Chinese are wealthy because they have a currency redeemable in gold... the Chinese will be able to Feed the Chinese.