This issue is more complicated. It is recommended to read some professional books. Roughly speaking

A low exchange rate is good for exports, and a high exchange rate is good for imports.

For a foreign trade-oriented country like China, a low exchange rate is beneficial. But such a country is quite unstable. We have learned from the past: Japan, Thailand, and Vietnam were so dependent on exports that they suffered from the financial crisis. China also paid a huge price to hold on to the fortress.

Therefore, the stability of the country requires a basic balance between production and consumption. This is somewhat like a self-sufficient "feudal economy", but in fact, it is the most stable economic model. Therefore, China's future development direction must be to develop the domestic market.

The first step to develop the domestic market is infrastructure construction. Then came the inward relocation of factories and urbanization in the hinterland.

However, places lacking water and energy cannot develop, so the Loess Plateau and western Inner Mongolia will continue to be poor.