If a country prints more money, then it makes the money it has worth less. So those with large foreign currency reserves in say, US dollars, will be worth less.

Of course, when the US dollar is worth less compared to other currencies, then there is more of an incentive to export and produce locally, rather than import.

I am not convinced of your idea. The economy doesn't always need to grow, and can not always grow. This is how we get bubbles, when things start growing too fast, and it all collapses on itself.