If someone is running a global web site and wants analytics, which of the 2 entities, or both, would he reference in HTML? Even if we're going to region-lock Europe to the European Analytics servers, analytics today often involves some computation done over the entire data set, including both US and the EU, done on the backend. Which backend would that be?

The privacy aspect has become something of a "think of the children" reason for a sort of "Internet xenophobia", as well as creating huge barriers to entry for small companies which cannot comply.