In theory - and as has happened in history - governments can repatriate (nationalize) critical assets. So as long as a nationstate has meaningful independence, even the threat of that emergency lever can prevent the worst abuse.
If such meaningful independence doesn’t exist, it arguably doesn’t make much of a difference who’s name plate is on the ownership?
If such meaningful independence doesn’t exist, it arguably doesn’t make much of a difference who’s name plate is on the ownership?