Your thinking is very similar to Trump, imo. Because fierce competition makes a certain group of people lose jobs, hence we shouldn't make competition more fierce, instead the government should introduce less competition and make room for lower end talents.
This is not how society progresses. It's true that if Chinese talents in the US come back to China, many would lose jobs, many other would face greater competition in terms of promotion, pay, etc. But overall there is only benefit to society and no downside.
Put the best people to the job, that's how you grow, and when the economy and society grows, more opportunities elsewhere will be created for those who might have lost jobs in the earlier process. For example, at the end of the 1990s, Chinese SOEs laid off tens of millions of incompetent workers and made themselves competitive again. When China joined the WTO in 2001 its economy grew significantly and many factories opened for these once incompetent workers and many people went on to build a well-off middle class income.
If growth and competition creates problems, the solution is not to say NO to such progress, for progress is bound to have side-effects. The solution is to strive for greater growth, greater development, greater success, so that there is a 'spill over' effect for everyone to benefit from the process.