Prisoners dilemma. Any individual corporation that stands up for human rights suffers the potential loss of market space to competitors and the likely revolt by shareholders, for which ~1/3 of American stocks are owned by foreign investors for whom there is no guarantee that they care about human rights either.

If American corporations banded together to stand up to China the way they claim to care so gosh darn much about LGBTQ+ rights, they could send a powerful signal that some values are higher than profits. But who wants to be first?