At a higher level, I believe what we're seeing with these cases, is the nationalization of giant corporations under the umbrella of their "home" governments, and thus, the malignment of these corporations by foreign governments.
It's about power. It's about the inherent misalignment of corporate and government power structures in a world where the US established a "western" free-market system, and now that system is becoming more and more aligned with national governments. Initially through national spy programs, but now more generally in the broader economic landscape.
As such, we see the Chinese forcing companies to headquarter and list their stocks in China (taking HK was a key part in facilitating that). We see Russia force Russians to use Russian social media. We see Europe punishing large US corporations financially to help grow their own competitors.
The longer term result is more segregated power structures. There will also be a pressure to bring smaller nations into these corporate-government power structures, and thus large nations will want to amalgamate neighboring smaller states into their unified system.
This is one big reason why China will likely re-take Taiwan in our lifetime, and Russia will likely (at least try) to fold in Ukraine into its system.