Yuck, 5 eyes cloud
You put critical Chinese company secrets on servers running software controlled by a 5-eyes nation? Why would you do that?
They won't allow Google Play in China. That turned out to be an excellent choice!
Google's new App Bundles means software developers hand over the app siging keys to Google (and I have no doubt NSA and 5 eyes and Australia). Australia implements a new hacking law that lets it add/modify stuff in the attack, and immediately follows it with a US-Aus cyber cooperation treaty. That would let them deliver trojan apps, with extra surveillance added, signed as if they were the official App. With Australia fronting the hack, but actually any of their partners requesting it.
All your messaging and phone and camera and voice apps, track and trace, banking, everything, critical business apps, all can be backdoored legally and easily. They didn't just backdoor encryption, those three moves combined have the net effect of backdooring everything.
But, Google Play is banned in China. Huawei and the rest have their own app store and companies protect their own app keys. The new "hand over the keys" only applies outside of China. China can secure its apps, at least on its own app-stores, but Europe, Asia, etc. cannot. China made the right choice clearly!
But the same applies for cloud services. Why on earth would you let potentially backdoored crap in? Who cares which IBM subsidiary is pushing it, you cannot ensure the basic security of this cloud crap, when they've given themselves the tools and legal right to hack it.