Re: Is it wrong to be in favour of this?
It's an imperfect world. If you can't compete in 5G, then you can't bake your own network.
So whose is the biggest risk? USA or China? Well it depends on if Trump is a Russian puppet or not. Given Russias aggressive interference in European politics, and military actions at the East edge, they're the most imminent threat.
Trump just cancelling 'Open Skies' the flyovers of Russian bases by unarmed surveillance aircraft, at Putin's request, the Reagan-Republicans that negotiated asked him not to pull out of that treaty. So yeh, it's difficult to go into denial about it now. He's a Russian puppet. He'll cancel the Russian sanctions next.
Best to play both China and US routes, and back-benchers will fall into line as they see it unfolding.
~2023 seems a reasonable timeline.
Hopefully Putin will die from Corona Virus, Russia gets a pro-democracy leadership, USA-Russia relationship flips from Sub-Dom to Dom-Sub. But that's a long shot.