Minnesota Senator "Norm Coleman" made some good obervations today about how some countries around the world might decide to use this Internet control to stop free speech in counties that do not allow for the freedom of expression. Can you image if China had control over Internet domain names what might happen? They might shut down all domain names that criticized it's policies.
The United Nations has not proven itself as a true fighter for freedom around the world. In fact, it has been more noted recently as a corrupt organization that will make under the table deals with dictators like Saddam Hussein. The "Oil For Food" scandal went all the way to the top of this organization and I don't think they should be trusted with the administration of the most powerful information tool in the world.
The Internet is changing the world and I think that's the main reason that some countries want to get control of it. The Internet was developed in the U.S. and that's where control should remain. Can you image what the Chinese would think if the Internet was invented in China and the U.S. wanted to take control away from them?