An important difference is that the US government doesn't have a "god credential", they have to request the data (and there is a process to request the data involving courts, etc.)
Meanwhile, govt officials in China appear to have unrestricted access
An opaque process of secret courts with secret decisions may be different legally, but in spirit it does not seem that significantly different to me in terms of preventing overreach and abuse.
Especially if you happen to not be a US citizen, in which case there are no actual safeguards anyhow.
IMHO this mirrors nicely the situation of a US citizen being concerned that the Chines govt won't protect their rights. This is how most of the world sees the US "checks" and "balances".
Even though I loathe spying, I must admit that the US (or any country for that matter) does not really have any natural or legal obligations to respect privacy of foreigners abroad.
It is their own business to protect it themselves.
Meanwhile, govt officials in China appear to have unrestricted access