No, it won't. They'll just relocate to China, or maybe a super yacht out in international waters. They'll continue milking every last cent out of the US until it's a dead dried up husk of a nation and then they'll just move to the next one. Their supporters are too stupid to realize where the end of the path they've been told to walk is going to take them, and they'd rather blame anyone else but themselves for all the problems they face. So no, a space race with China won't fix shit.