For whom? It's clearly disadvantageous for both countries, their populations, and specifically their scientists.
...I guess that it's good for me given that I pay taxes to another BRIC, and China might look for other partners instead? Local science could get a boost.
I'm surprised that it would be China. Wouldn't the EU have much more when it comes to science? Then again, it may be the biggest single country, which there are over a billion people in China who could be researchers.