Actually if you look at cost of living data, the USA is in quite an interesting position. It contains both some of the most expensive and cheapest cost of living in the developed world. Salaries in some areas are some of the highest in the world, and in other places are closer to Eastern Europe or South America once you've accounted for things like taxes and healthcare. There's a seriously huge gap in pay when looking at Rust Belt Ohio vs the Bay Area.

Two kids go to school at Ohio State in the same program. One moves to SF and makes 200k right out of school. The other stays in Ohio and has a starting salary of 55k doing similar work. I don't think you need to worry about the Chinese coming for your tech jobs. In a remote world, the Buckeyes will get there first.