If you compare the two countries we've got one hand the US who's industrial policy seems to be coming up with ever more intricate and inventive ways of trying to 'stop China'. Meanwhile on the other hand we've got China that's just continuing to do what China does. Our western media machine will continue to blather on about 'dual use' and 'national security' and stuff but its really about trying to keep another nation down (and its been stated as such so why don't we drop the whole pretense -- and while we're about it the notion of 'tit for tat' -- we're creating the initiatives, not 'them').
It won't work. Not only has it completely upended the build/buy tradeoffs of normal commercial activity but its given the Chinese nation something to focus on, a national purpose. Meanwhile as a US investor I have to keep my money locally in dodgy banks, dubious funds and whatever get-rich-quick scheme the financial sector is dreaming up this week (or rather -- "I have to navigate this minefield") because I'd denied investment in companies that are actually trying to do something rather than just shape and defend monopolies.