And Facebook is the preferred search engine for the olds. I see the potential for exploitation, in fact I've been watching it going on for a good long while right here with US based companies as well, and I think Facebook is playing a major role (along with Fox) in why so many of us have lost our parents to the cult of the GOP. I don't really see the thing you are concerned about being different because I've already watched Facebook sell to whoever wanted to buy it, including foreign governments. So why should I care if I'm lining the pockets of some Singaporean CEO vs Zuckerberg if the end result is that governments against the US are still going to wind up with the same data?
What I'm getting at is that if we're going to be banning social media from China, then we should be banning Facebook from selling data to non-US citizens, and banning US citizens from sending that information outside the borders of the US. If we're not ALSO doing that, then China will just buy the data from Facebook and carry on with their plans unabated. If the data is what's important, then we should be protecting the data, no matter how it is collected. It's as simple as that. Until such time as we decide to protect the data no matter where it's being collected, I don't really understand the picking of winners and losers among the data collectors. That really shouldn't be the business of our government.