If you're running a Chinese site aimed at Chinese you're good.
If you're running an Indonesian site aimed at Germans you need to honour the GDPR.
I work in a place that would be beyond heavily affected by GDPR and I find the legislation a good change as companies should not hoard data they don't need - just in case... or just to sell.
However if you have some direct business and do accept payments - by all means make it secure and transparent to your customers.
IANAL
For starters, if you don't take payment and aren't in the EU, EU enforcement power is going to be extraordinarily limited. And even if you do require payment, if you don't have a physical nexus in the EU, it's unclear what exactly the EU can do?
I think the GDPR was basically aimed at some of the scummier adtech practices and businesses like Facebook, and for those, it will be very enforceable.
You need an EU VAT ID to accepts payments from EU citizens. So they will revoke that and then you can't accept payments from EU.
This was mentioned before: No, you don’t.
Millions of business around the world accept transactions from EU citizens every day without collecting any VAT or having any relationship with the EU.
Just because you can doesn't mean you should. And not asking that questions has got us where we are today.