There are only two end states here if you insist on this reasoning: either Chinese companies dominate the world, because they can exist under their laws and our

There are only two end states here if you insist on this reasoning: either Chinese companies dominate the world, because they can exist under their laws and ours but companies from other countries cannot; or the western world adopts laws like the Chinese and blocks foreign competition with unreasonable requirements (however "lawful" they might be).