This will be lose for both Chineze and US governments. They will lose their important source of income: the printing press. And their banks will lose a lot of customers (why keep money in bank if bitcoin's % is better). So it's in interest of both governments to squash BTC. Our hope is that instead of jointly killing BTC they will use it to fight each other. Then they will lose and we will win.
The old collusion/prisoner's dilemma situation, right there.