Yeah, this is the funny thing about it.
As an American, I'd much rather a Chinese company have data on me than an American one.
The American government and FBI and police don't have access to the Chinese company's data. But with a subpoena (and sometimes just with a friendly ask), they sure do have access to an American company's data.
Now if the US is at war with China and you're a politician or in the military, then of course get rid of every device in your home and workplace from China that could be used to spy. But if you're just a normal citizen worried about your government collecting information on you, it seems preferable to stick to foreign companies, like Chinese ones.
Yeah I think a lot of privacy advocates like to pretend they are some high value target. A nation you don't live in, that has no use for information about you is collecting information on you. What is the problem that wasn't there before? I can at least understand a principled stand of not wanting cloud connected cameras or microphones, but the China hawking is just ludacris.