A Guardian article accurately points out that we are at the beginning of a new cold war pitting the West against China:
This perception is what makes tech companies apparently unable to see China as what its behaviour reveals it to be: a growing and existential threat to freedom. That’s why the developments of the last few weeks have been so revealing. They show how perceptions of commercial power and fear of losing out can intimidate people and corporations.
What’s happened is that the old world of the cold war has morphed into a new bipolar world in which the alternative to liberal democracy is not the Russian federation but China. Russia is annoying and dangerous (and it has nukes), but it’s not an alternative system. China is – and one that may prove increasingly attractive to many non-aligned countries because of its amazing accomplishment of lifting so many people out of poverty so quickly.
During the cold war against the USSR, that adversary hobbled itself by having an inefficient economic system. China does not have this disadvantage. It also has the advantage that its population is considerably greater than the USA and EU combined. Winning this cold war will thus be harder for the West than winning the previous cold war was.