Good. As much as I don't like some things about China, but damn it they're really good at cutting down costs. I look forward to their version of Nvidia GPUs at half the price.
While it is hard to predict the future, a good bet is that global trade will win out in the end on a long time frame.
Arguably China doesn't have the technology required to manufacture 30-series GPUs with the yield or unit cost Nvidia did. I wouldn't hold my breath for Chinese silicon to outperform Nvidia's 40 or 50 series cards any time soon.