China are making some very wise tech investments these days. They've built an industry on stolen western IP and have used it to develop a very forward looking IP portfolio. Western companies in public ownership have been far more focused on shorter term returns and falling behind in areas where China has been incubating innovations with billions in investment over a decade or more. This is not only an astute move on behalf of a centrally planned economy but in general the security aspects are valid concerns. The British efforts to break the war time enigma code were kept secret until 1974 whilst they had sold captured enigma technologies to third world governments. More recently it was revealed that the swiss company Crypto AG had been jointly owned by the CIA and the German BND. It is therefore only natural that five eyes nations would view with suspicion the widespread use of communications technology controlled by their adversary. Which are they more concerned about though? That the Chinese might be able to intercept private communication routed over technology that they control, or that existing western interceptions might go dark? From the disconnect between the sinophobia emitting from the whitehouse and the other five eyes allies we may infer that much of it stems from populist, protectionist policies rather than security concerns that would be shared with allies. Whether or how a company specializing in VR technology fits in with that is an open question but the way that this company has been finessed into Chinese control bears further examination

I suspect that wise countries will become very closed tightly controlling the assets within their borders even to the extent of controlling what is available to people and the value of declared assets.
Free trade will not occur for a long time.

Blame this on the Tories...the May government should have foreseen this eventuality. They are now trying to close the stable door when the horse has not just already bolted, but has galloped over the horizon and disappeared!