No, has to be local
Keep your servers in your OWN country, that Australia hacking isn't confined to Australia. Any business with a base in Australia is subject to it, you need to force your data into your home country with severe penalties for exfiltration data equal or greater than the Aussie laws. i.e. their penalty is to 10 years in prison for not assisting in their hacking/surveillance, yours needs to be 10-20 years for assisting that Aussie cyber attack against your home country.
It's just a rack of computers, it can be anywhere, if Huawei can run data centers per country, why does Amazon keep putting them in 5 eyes countries?
Don't undermine the security and sovereinty of your home country by using this 5 eyes backdoored crap.