> They also don't have to allow foreign tech companies to operate in their country without following local laws.

Exactly right. So it's wrong to say that these governments are beholden to the tech companies, they could simply block them if wanted to, and perhaps they should, but either way it's obviously wrong to say that these governments are beholden.

> Facebook could easily sway an election if it tries.

So could the people being banned by Facebook. What's your point here?

There is a step between banning and giving a free for all which is requiring that social media follow local laws with the threat of being banned for non compliance.