Relying on china to keep the gold price high is dangerous.
Chinas steel industry $400 billion usd debt or 5% of GDP.
This debt has been caused through losses.
The 7 to 8% growth China has experienced is inflation created fully owned or partly owned state companies with high losses and debt.
Using stimulus and debt to control GDP and employment when the world is in recession might bring China undone.
China is losing large manufactures like Nike, Adidas, New Balance just because monthly wages move from $150 usd to 170 usd. This doesnt sound like a transitional economy.
If the Chinese governemnt stopped excessive capital investment there could be another currency crisis.
Gold would do nothing for them.
stripping costs, page-9
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