Sounds exactly like China to me.

You can change just change the last word and get Latin American foreign policy for the past 130 years,

"Imagine a world where in order to do business in the US you must grant the government control of your country".

This is exactly America’s path. All this time we were “fighting” regimes like Chinese and Russian and now it is like “can’t beat them, join them” banana republic

I don't even understand why it is thought that letting a small non-elected clique run economically important infrastructure and control the lives of thousands of employees isn't considered dystopian. Public ownership at least has democratic legitimacy.