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Companies can still pursue legal action in Chinese courts but they'd have to weigh whether or not it's worth it.
In all likelihood, the consequences of not paying your debt will only apply in the country where you incurred that debt. Realistically, INTERPOL's not coming after you because you didn't pay off your credit cards.
You could "get away with it," in a sense. There are limits to what creditors will do to recover their money. They may file a lawsuit against you and try to get whatever they can out of your assets in the United States. But they're not going to chase you abroad. If they do try, that will mean to waste way too much money and that will defeat the purpose of being in that debt collection industry for a profit.