So? What gives the USA govt the right to punish (meaningfully or otherwise) a French company?
You were arguing that this French company could be meaningfully regulated. If you don't want governments punishing them, then they can't regulate them on their shore or off.
As long as those dozens of subsidiaries follow USA law, then there's no connection to the specific subsidiary (Orange-USA) that is breaking the law and being punished.
And if they aren't following the law then what? They just shift assets between them everytime one of them gets caught.
But when have you ever seen it not occur?
Everyday. I work in telco. Regulators cross borders and revolve disputes all the time. Same with airline industry who handle new problems. Shipping and packaging. Oil shipping and refining (though extraction often gets quite violent). It happens most of the time.
. So governments are in a position where they either have to give up their sovereignty (well technically try to convince other nations to give up their sovereignty, but that certainly won't be a one-way street,) or give up their ability to censor random things that they don't like
Or create an effectual system of global regulation like what happens for most industries.
No, they can't. The USA government has no more control over Google France than the French government has over Google USA
They have full authority over the parent company. They could order Google USA to shut it down. Same power they have over any other owner of foreign stuff that commits international crimes. Their are plenty of Americans in American prisons for things they did abroad.
nobody would want to instigate a whole treaty negotiation process to deal with a single company's policies
I'm not saying a single company I'm saying all multi-nationals. And then another specific one having to do with multi-national internet businesses.
I agree the WTO is a good place as well to deal with this. But that is a new power and so likely requires at least an agreement.