Is that quote really relevant here? Would anyone see this and think "those mean record labels, they're being racist because they hate Australians"?
Don't get me wrong, it's a nice quote, but it's the sort that's so nice that every man and his dog pick it up and chuck it around even when it isn't appropriate.
If you start to argue contracts, the history of commerce, international copyrights, etc, etc, etc fucking cetera you bore people to death. If you simply call it racism, or nationalism, then what are they going to do? Argue that racism is okay?
Most of the world is politics and in politics its not about presenting a logical comprehensive argument. It is about winning, and making the enemy lose.