This type of comment is popping up everywhere. I think it's a bit naive and simple. I would add selfish, but it might be more than that. If the CCP uses the data against your government and its people in order to pursue its interests, isn't it possible that your well-being could suffer? Even if that is not the direct intention? Further, isn't it possible that, while your government indeed has more power over you, a side effect of your government successfully satisfying their interests could be an improvement in your well being? How can you be so sure the biggest threat is your government?
I'm not so sure one way or the other, I'm just curious how you are. There is evidence of foreign governments meddling with US civilian affairs. It seems like this is exactly the attitude they would try to cultivate.