It says something like "on company equipment" and/or "reasonably related to skills/knowledge gained or applicable during employment with the company".
So I wouldn't quite quote this as being US imperialism. I seem to recall similar clauses in my previous contracts, but can't swear on it.
My take is the "skills/knowledge gained or applicable with the company bit": if its in my company's core market, then sure. If it's from training they paid for/provided (say - I don't know - Kotlin, if I didn't already know Kotlin) then OK.
But if I make a PHP/JS app, in my own time, in an unrelated market, then they can bite me for it. Obviously, in a more litigious environment, some people may not want to take that risk.