I think that should be the question we should be asking ourselves in the first place. What makes the US so attractive to global talents(China included)?
I think I've answered this before. It's a combination of the 2 factors:
1. Great wealth generated by financial control created from America's victory in WWII. America is a finance superpower but finance is not intriniscally real; it is completely based on trust in your system and the power to defend it, just like the value of the USD.
2. That wealth is up for grabs in a population of relatively stupid people, making life extremely comfortable for someone who is not stupid. Someone who is an average tech worker in China getting yelled at by his manager to keep up is a superstar in both ability and work ethic in the US. He knows that raising his kids in the US, he barely needs to nudge them and they will be in the top 10%; push them and they're Ivy league. In China, with all the hard-working super competitive, super intelligent kids, he'd have to rake them over the coals everyday about their studies just to be average in school.
If China crumbles 1, then 2 falls with it. A population of many stupid people without a very strong ability to attract foreign talent is not globally competitive.
They really don't have anything else going for them; their cities aren't as modern as China's, they have way worse food than in China, they have way too much deadly crime (both from civilians and the police/ICE themselves), and the people there are becoming more and more xenophobic assholes from losing ground to China. They don't even really know how to have fun; spend some time in China's resorts and party venues and you realize America charging you $600 a person to walk in Disneyland in 95 degree weather getting in hour long lines and paying $35 for teeth-bustingly low effort turkey legs is just... hell. Just like Trump said; he's opening the gates of hell cus that's his house and his gates to open.