China is trying to fortify the Yuan as a global currency, buying a lot of gold.
The US is trying to extend USD dominance, and create demand for US Treasuries by wrapping them up as stablecoins.
Assuming sound money beats fiat in a world which is increasingly indebted where trust fails, a gold strategy wins.
The US counters with a bitcoin, digital gold, strategic reserve. The fact the US achieves this reserve will reflect the success of China' gold strategy.