No, it doesn't. Let's take an actual country rather than something vacuous like "The West". To start a company in the United States (for example), you do not need "an American business partner" controlled by the federal government of the United States. The fate of your company is not tied 100% to the approval or disapproval of that business partner's actions, which in the case of China are vigorously and actively policed. Whatever your political views, and in particular whatever you twit, or facebork, or say on camera, you will not be denied the right to do business in the United States of America. If you could get an editorial published in the Wall Street Journal suggesting that Western Capitalism is corrupt, Marx was the one true prophet, Emperor Norton was the legitimate sovereign ruler of the United States, and frankly you think the ideal government is a blend of Iran and North Korea (two countries which the United States does embargo), you might have to deal with some weird fallout from public reaction, but you'd still be in business. Furthermore the editor of the Wall Street Journal who published your editorial might suffer some backlash for the utterly weird thing they chose to publish, but they would not be fined or imprisoned or tortured or executed by any state-run apparatus (as they would in China).
Embargoes are the exception, not the rule, and they are not used as a means to enforce political speech. It'll be a cold day in hell before I try to defend the foreign policy tactics of the United States, but to pretend that a business embargo on a select few countries constitutes something on the order of the Chinese stranglehold on business in their country is just false.