There are several other reasons for not living in China, have you ever been there? Freedom, Privacy, Pollution, Corruption, Healthcare etc.
IMO this is a quickly growing competitive disadvantage for the US.
If could take classes in China and possibly get a job making 50% more there, I'd probably come back to the US instead. A 50% raise isn't enough to justify being half a world away from my family.
I want to raise my kid in a place where you can speak out about human rights abuses and not censor yourself because the government is listening.
But I do have political beliefs which would put me under threat in China were I to voice them or act on them. And I would want to raise my children in a place where they won't be discriminated against for being LGBT (although discrimination still happens in the US, at least you can be out and proud. In China, to my knowledge homosexuality is very much "don't ask don't tell")