The British media lump the Arab owned clubs together but in France PSG are the leading club who bring in economic interest into Ligue 1. They have domestic rivalries with Marseille for instance but they don't have a powerful rival club(s) who would seek to exclude them from competitions. So in France, PSG are the dominant club. In England, Man Utd, Liverpool, Arsenal etc have formed a covert alliance of sorts and hence the domestic UK media play on this.
The financial media know full well that the City and PSG are run on a completely different basis. PSG are financed by the Qatari state. MCFC are not hence City group took on a debt issue recently for $650m and raised $500m from Silverlake investments for an equity stake in City. I think it is clear that PSG are state-owned. Manchester City are not although if you were a Man Utd fan I could see why you might think we were as there are state functionaries running City.