Yes, a more flexible Chinese exchange rate would benefit other countries, because they would have more options when making business decisions. It would not be as good for China of course. But other nations could wait until there is a favorable exchange rate in order to transfer money or make a business deal.
The Chinese have long kept their currency floating in a tight band up and down to help their exporters, I believe that letting the band get wider and finding out the true market value of the currency without the Government manipulating it could bring be net beneficial for many countries doing business with China.
Yes, a more flexible Chinese change rate is beneficial for a plethora of reasons. It would be much easier for other countries to exchange there own personal currency for a more even amount. Thus it's much easier to organize your currency as opposed to having the inflated currency that the Chinese have implemented.
It would benefit other countries because it would be more fair. Chinese exchange rates swing so often, and the swings are usually the person not getting their money's worth. The Chinese way of doing business is so backward, I wish they weren't a leading global economy at all. I find them dangerous.
I think that if there were to be a more flexible Chinese exchange rate, other countries would definitely benefit. Most countries do business and trade with the Chinese. And if the exchange rate were to make it easier for them to do so, it would only be beneficial for everybody.