Chinese streaming sites like Bilibili that block non-Chinese users from watching certain shows are probably paying for the IP, but only have a license for China, so they need to block everyone else.
You seem to be thinking about foreign governments blocking Chinese sites, but that's pretty insignificant compared to Chinese sites blocking foreign IPs from accessing them.
https://news.ycombinator.com/item?id=15462708
https://news.ycombinator.com/item?id=16406245
Chinese streaming sites like Bilibili that block non-Chinese users from watching certain shows are probably paying for the IP, but only have a license for China, so they need to block everyone else.
You seem to be thinking about foreign governments blocking Chinese sites, but that's pretty insignificant compared to Chinese sites blocking foreign IPs from accessing them.