And that is what is wrong here. Even the smallest nation should be far more powerful than the largest corporation. But corporations are now more powerful than most nations, including some really big ones. So the only way to solve this is to for an umbrella for nations that offsets the power that these corporations have.
The first thing you notice when you arrive at Brussels airport is the absolute barrage of Google advertising that tries to convince you that Google is doing everything they can to play by the rules. When it is of course doing the exact opposite. So at least Google seems to realize that smaller nations banding together wield power. But they will never wield it as effectively as a company can, so we still have many problems.
I think it's shocking how many people Google can affect through its search algorithms (more than any nation on Earth) and yet there is no democratic system to hold them accountable.
A nation that did that would be able to do that exactly once before everyone decides to never do business with it ever again, which they can afford to do because it's such a small market. Exercising arbitrary power is not the trump card you think it is. Hell, even a tiny nation with reasonable but annoying (from the point of view of a corporation) laws may not be worth it to deal with.
> A nation that did that would be able to do that exactly once before everyone decides to never do business with it ever again
US CBP and ICE would like a word with you.