The Chinese Homo Sapiens died out at the bottleneck and re- radiated back to China while the Hobbits survived in place? I’m assuming that the current day Chinese are genetically related to the rest of mankind and the bottleneck survivors. The Chinese could be mistaken too.
I don't think the 'Hobbits' are Modern Humans. The guy (forgot his name)who discovered them think they closely resemble these folks: