This! It's always amusing when folks say "But China", my data in the hands of my government and their billionaire friends is more than dangerous than in China. I mean, if it's an IP sort of thing then go local.
As somebody from neither the US nor China, this argument would be much stronger if the US hadn't started acting like a rogue state - starting wars of aggression and messing up the world's energy supply, actively speeding up climate change, kidnapping leaders of sovereign nations, threatening its allies (!) with invasion, etc etc.
The CCP's not great either, sure. But the Americans don't really have a leg to stand on anymore.
To be fair the US has been doing this its entire history, it just stopped pretending. C.f. Hawaii, Guatemala, Cuba, Chile, "The Jakarta Method", etc. etc. etc.
So is your concern more about reducing the risk of an authoritarian China "winning" the AI race? And less about reducing the risk of your data being used against you personally?
To me, the risks of an individual helping China to continue to develop their AI by being a customer is pretty marginal compared with the personal risks of my data being used against me.
I see. Though if you follow the argument set forth by Dario, it seems you'll not only have your concern to worry about (i.e., personal risks of your data used against you), but many more as well on top of that.