It's not necessarily wise to put aside national bias. There are well informed, intelligent, honorable people who believe that Chinese hegemony would be a bad thing. In that lens, it would be perfectly consistent to want to prevent Western citizens from being influenced by the Chinese company/govt, while being OK with the same power in the hands of Western governments.

IE, you would need to also assert that Western companies having these data is no better than Chinese companies, an opinion which is hotly debated and not at all settled.

Is China not a uniquely threatening force? They have the second largest GDP, the second-most expensive military with the most personnel, considerable influence over other important Asian countries, and a major role in manufacturing the world's products, and they continue to rapidly expand across all of those facets. They are very much in opposition to Liberal values (free speech, democracy, privacy), and they are somewhat aligned with other US adversaries (Russia, North Korea).

In 1910, I'd absolutely attribute focus on China to racism. Today, if I were to rank the biggest threats to US for the coming decades, I would put China in distant first place. But I'm no geopolitics expert, am I missing something?