That’s not remotely true. You can open a Wyoming LLC and be off to the races in under 48 hours and under $100. I personally know people from half a dozen countries who have done so.
Where in the world is more convenient for a foreigner to start and run a business?
I can register certain types of business, but I can’t do anything that actually matters, like entering the country. According to US law I’m not even a proper human, so I could get lawfully executed on the spot, as evidenced by numerous dronings.
To compare, within EU I have all the usual rights, from establishing a company to healthcare.
Pretty sure anyone can form a US company, citizen or not. You definitely cannot form one in China without Party involvement, and depending on the size, even needing to have a full time Party member on staff.
We - Europeans and pretty much anyone who's not an American - can't do really anything in US.