No, Chinese will stay home instead of immigrating to the US.
China draws mainly on the talents of the best of its billion+ population. But America has had its pick of the best of the world's 8 billion people. If people stop immigrating to the US, then we will surely fall behind technologically, economically and militarily, and soon we will be making t-shirts for Chinese for $5 an hour.
If an H1B worker "leaves after a month" they get deported. Meanwhile, nothing in the world can prevent the Bus Factor so I don't see how that's even relevant.