"Chinese ownership of corporations is entirely different in this context"

There is no difference. The US does not effectively have any law or checks on the power of the presidency at this point. Various tech companies had executives literally enlisted in the armed forces. The government has shown, repeatedly, that it will financially penalize any company that doesn't serve their agenda. It has controlled broadcasters and social media and financial organizations.

As an outsider looking in, any difference between the US and China is mostly illusory. It has all been revealed to be make believe.