Well definitely ICO being banned in China other countries will enjoy the advantage as more investors from outside China would become more interested in it. But lets see how things would turn around seems so other countries will take advantage of it for sure.
Especially Chinese stay in overseas. remember Chinese government basically owns everything of you. many realize this and try to channel out their assets and money out of country through many way, crypto and ICO is one of it.
no idiot in the world uses an ICO to move their money around. that is just too risky and the risk is not just about the price of it getting dumped. that dump is obvious. the bigger risk is the bugs that ICOs can have which can lead to loss of funds. in other words you can lose all you own in a blinking of an eye to a bug!