How's that work? Two systems are up so the Chinese automatically get to control all the ground systems?
That aside, I'll be quite surprised if the Chinese system can even remain competitive, much less be so much better it drives our system out of business.
If it was just the GPS system by itself, I would say China would have to struggle to maintain commercial competitiveness. However, the Chinese also own the majority of the GPS receiver manufacturing industry. Right now the receivers in Chinese manufactured Navigational systems, smartphones, hand-helds are all built to conform to GPS specifications defined by American Designers from the late 70s.
With their own Navigation Satellites, they could put in additional capabilities such as 2 way data links, or restricted levels of enhanced precision depending on geographical locale or place of manufacture. In effect, they could use their Satellite network to give their commercial manufactures a huge advantage over American and European GPS receiver manufacturers.