Everyone loves money but socially and culturally China is a lot more closed compared to US, much more so than what people are used to atleast.
US was arguably the most open country on the planet in terms of acceptance of ideas and cultural diversity especially in 20th century.
But I also don't think people need to be very worried but still we haven't had monocultures on the top or close to the top of power hierarchy for several decades so it's going to be uncomfortable for a lot of people.
For instance China is heavily censorious of LGBTQ and very likely against the Idea they haven't banned it outright yet thankfully. But then again lots of countries are in a similar boat.
But the biggest difference is China can easily back slide without possiblity of return on any metric because it's not a democracy.
"Was" being the operative word there. It's been a long time since new (foreign) ideas were accepted, and the resistance to cultural change has been ever present.
American culture is capitalism, and that isn't changing, just getting more extreme. Equally American culture is "white European" and the resistance to change there (racially and culturally) is woven into US history.
China has a pretty vibrant LGBTQ scene, even Shenzhen was known as comrade city in the 90s. China is at the same time very closed and very open. It’s hard to describe.
I had lots of friends when I lived in Beijing who were gay, the gay bars weren’t underground and my gay coworkers weren’t in the closest, for L/girls it was even more out in the open (especially at the art schools). If you haven’t lived in China I guess you wouldn’t have a clue.