lol, interesting question...
Well, the mass of the Earth is
5.9742x10^24 kg
and approximate of the mass of all the people in China would be (high estimate)
population * average_mass = 1.3 billion * 70kg
So the weight of the people in China is about 0.00000000001 % the mass of the Earth. So if they jump 1 foot in the air, the Earth will move 0.0000000000001 ft, which isn't very much.
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I guess a more proper analysis would consider the effects of slightly perturbing a gyroscope, and figuring out if the rotation vector changes significantly. Off the top of my head... I think it would cause it to precess a tiny amount when the people jumped, but that that would be neutralized when they landed. (?)