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Because your client (generally a browser) is configured to implicitly trust a group of companies called "root Certificate Authorities" (root CAs). Now, consider one such company head-quartered in China, or the US. The governments of both countries have the power to secretly demand such a company's keys, then use them to make your client trust whichever endpoint they chose.



That's still considerably better than sending unencrypted HTTP over the wire in pretty much every way.


Better, but not good enough.




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