US companies like Meta, Google, are banned in China. Chinese companies are not banned in the US. US investors are barred from making controlling acquisitions of Chinese companies. Chinese investors are free to gain ownership in any US company they like.

The rest of the world is generally playing on a level globalist playing field of free trade and open competition. The theory for decades has been that if the world treats China like every other country and then over time they will become more open. But this theory has been disastrously wrong. China’s communist party is a mercantilist country where the government and private industry act together as one.