> The big AI data centers would all end up in China, owned and managed by subsidiaries and leased back to the parent.

Well does it matter where industry & technology are located (and who controls them) or doesn't it? The anti-protectionism crowd thinks no, it makes no difference if we make something locally, or import it. A stance not shared by any of the countries currently leading the semiconductor industry - or in the case of China, rapidly catching up.