We will end up like cavemen if we start to banish every new technology coming from China based on racism. China will not stop developing new technology just because the US doesn't like it.
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I for one am rooting to start boycotting the whole of China, until their communist regime which conducts genocide is forced to change and play humane and fair.
Technology is bigger than any one person or place. Samsung could make x86 chips just fine without hiring a single Intel engineer, if they put enough money behind the project. Likewise, China could out-innovate silicon valley if they poured trillions into it (and I'm sure they make that calculation yearly and decide not to). Likewise, the US could build fabs and get back up to speed with China when it comes to chip production, but they would have to pour trillions into it, and it would disrupt our image of green/clean technology.