It really doesn't, that just ensures that already giant western firms reign Supreme on the national markets of smaller countries

But if you like to take that slogan and spread it around, then I am sure which you might be quite happy with said outcome?

How does that work with ISPs, healthcare, tax filing, airplane manufacture, pharmaceuticals, online retail, and a whole slew of other crucial industries (especially in the US)?

Without appropriate regulation, competition is an empty choice between the members of an oligopoly at best, or becomes entirely absent at worst if the industry was captured by a monopoly.

Transparency is of course similarly toothless without corresponding forces of real competition and legislation to punish whatever crud came to light.