Beyond country specific TLD's which every country already has, what exactly do other countries want in terms of controlling the internet that they don't already have? (edit: spelling)
Then it would be up to each nation to enact rules for their part of the net, and nothing more.
Right now, if i happen to access a .com that is operated by a non-US entity, am i subject to the rules of USA, the nation of origin of said entity, or where they happen to have their servers housed?