Apparently salary cap could go down from projected $116million to $98million in 2020-21 because of China issue. 2020 free agency consists mostly of 2016 free agents who got overpaid that year because of salary cap jumping from $70million to $94million over one Summer, coinciding with a weak free agency it meant that players like Biyombo, Turner, Fournier, Mahinmi or Mozgov got well over $15million a year. They will either get inflated short team deals offers again, just because their current teams can't sign anyone else and they will want to keep them in order to match salaries in trades in the future (it makes sense), or they will get just minimum contracts from other teams as nobody will have any money.
It takes away a lot of leverage from restricted free agents who haven't signed with anyone yet, e.g. Ingram, Brown and Hield. They might not get huge offer sheets anymore and could get decreased offers from their current teams who won't need to go over the top to retain them.