The problem with multinationals is that, because they have deep pockets, they can drive local companies out of business one by one if they so choose. And they even get to pay less taxes by counting the losses they incur by underselling their competition out of business as reduced income. I have no idea what difference the nation state (or any other government, democtratic or not) can make in this.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman