There is no such thing as a relationship with "chinese companies". In China there is just the State, and that is it.

If the world needs any more evidence of Europe's short-sightedness, it would be them running to China to spite the US (instead of creating fertile grounds for their own tech).

No one is running to China to "spite the US". Recent geopolitical developments have shown the US to be a violent, unpredictable and unreliable partner.