Yup.
And these big corporations and our oligarchs essentially define the framework of laws and regulations within these nations.
They are the ones that donate big to political campaigns, political parties, hire lobbying firms, take legal action in defense of their interests, or outright buy off the politician.
How is it done? Hire a family member, buy art, donate to a foundation/charity, collect on huge speaking fees, have family members buy and sell stock but have inside information essentially, give a family member extremely favorable deals... Realize, what we call a MSM is really just a handful of media conglomerates which are beholden to these corporations for advertising money, or outright owned by the oligarchs. Most national politicians basically sell their influence to some degree and become very wealthy in return, even if they are socialists like Bernie Sanders. Examples: https://en.wikipedia.org/wiki/List_of_current_members_of_the_United_States_Congress_by_wealth
The (((nation))) is still the best way around which society is organized.
However, we live in a supranational era with secular and global corporations. The national politician may be elected by and represent the people of a given nation, but they are often making decisions that actually run contrary to what the best national interests are.
“The national politician”
Xi, our intellectual property is being stolen....
China is a big country. I worry much more about Chinese stealing Chinese property.