> We (europeans and americans) cant do really anything in China, we have essentially no rights and cant really conduct business.
Sure you can. You just have to conduct your business in China under the same rules that Chinese businesses in China have to follow.
Most countries or pseudo-countries work this way. For example the EU is about to tell US companies conducting business in Europe that they have to use USB-C for device charging ports and impose a bunch of limits on what exclusive feature hardware makers can include on their devices.
But those same rules apply to European businesses operating in the EU and to Chinese companies operating in the EU and to anyone else operating there, so it is fine.
This is one of the reasons international businesses often set things up so that they have separate companies in different countries. You set up BigCorp USA, BigCorp China, and BigCorp Germany as separate companies incorporated in those jurisdictions, with the latter two handling all your Chinese and EU customers respectively.
Same happens with non-tech businesses. If you wanted to open a chain of international bookstores, you'd face all kinds of restrictions on what books you can sell in various countries. A lot of books that would be fine in your San Francisco store might get you in serious trouble if you carried them in Saudi Arabia. But they would also get a Saudi owned bookstore in trouble too, so you aren't being treated differently.