Unfortunately (fortunately?) your rebuttal assumes that 1) companies can move easily from country to country and 2) companies are motivated entirely by profit.

As for 1, countries have many ways from persuasion to coercion to keep companies in their sphere of influence. There are plenty of business-unfriendly countries in this world that somehow retain businesses. In the real world, there's friction.

In my cursory research, I find 2 to be, once again, a liberal-democratic assumption which relies on our particular barrier between public and private. This barrier doesn't exist the same way everywhere: some corporations operate as extensions of nationalistic projects. Gazprom's relationship to Russia is different than Apple's relationship to the US. Samsung (and other Chaebol corporations) has a different relationship to the Korean nation than Google has with the US.