Point 4 (in particular, the part about allowing data transfer overseas) could be construed to mean letting big companies work around the privacy laws of one cou

Point 4 (in particular, the part about allowing data transfer overseas) could be construed to mean letting big companies work around the privacy laws of one country by copying private data to another country with weaker privacy laws. I think that sneaking points like this in weakens the effect of the whole thing.