I can't help but feel like we are moving from sovereign governments having authority over territorial jurisdictions to sovereign governments having authority ov

I can't help but feel like we are moving from sovereign governments having authority over territorial jurisdictions to sovereign governments having authority over specific interactions between specific parties across the globe. The US government doesn't just have authority over US territory, it has authority over any disputes between anyone and US persons or entities. The same seems to be happening across the EU and southeast Asia. It paints a grim picture.