A real-life example of what you point out in the post.
Slovenia has been debating upgrading it’s nuclear power plant for decades at this point. The problem is, we are not actually sovereign.
The current plant is in shared ownership with Croatia, even though it’s physically in Slovenia.
Austria vocally objects due to proximity and disaster radius.
We don’t have a sovereign fund to finance it with, and we will get totally pwned by whoever will give us a loan, because we have no bargaining power.
There’s only one supplier in the world we can actually get the upgarde from, so they can pretty much quote any price.
