Re: Why the uproar ?
In the *current* reality, somebody opening a bank account in France has to sign papers for the US government. Even if they have never set foot in the US, have nothing to do whatever with the US, they're forced to send data to the US about their banking, because the US demand it.
I've yet to sign such a form for China. At least one can hope it would use A4 sheets of paper, not the non-standard US sizes.
So you'll excuse me if I also think that yes, the uproar about China is exaggerated when the US right now has a much tighter grip on transactions globally.