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Sovereignty can generally be defined as supreme authority. [1] [2] [3] Sovereignty entails hierarchy within a state as well as external autonomy for states. [4]In any state, sovereignty is assigned to the person, body or institution that has the ultimate authority over other people and to change existing laws. [5]
Sovereigntism, sovereignism or souverainism (from French: souverainisme, pronounced [su.vʁɛ.nism] ⓘ, meaning "the ideology of sovereignty") is the notion of having control over one's conditions of existence, whether at the level of the self, social group, region, nation or globe. [1]
Balancing can be carried out through internal or external efforts and means. Internal balancing involves efforts to enhance state's power by increasing one's economic resources and military strength in order to be able to rely on independent capabilities in response to a potential hegemon and be able to compete more effectively in the international system.
There are two ways in which states balance power: internal balancing and external balancing. Internal balancing occurs as states grow their own capabilities by increasing economic growth and/or increasing military spending. External balancing occurs as states enter into alliances to check the power of more powerful states or alliances. [10]
Westphalian sovereignty is the concept of nation-state sovereignty based on territoriality and the absence of a role for external agents in domestic structures. It is an international system of states, multinational corporations , and organizations that began with the Peace of Westphalia in 1648.
The Westphalian system, also known as Westphalian sovereignty, is a principle in international law that each state has exclusive sovereignty over its territory. The principle developed in Europe after the Peace of Westphalia in 1648, based on the state theory of Jean Bodin and the natural law teachings of Hugo Grotius .
International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns and consequences of transactions and interactions between the inhabitants of different countries ...
The New International Economic Order (NIEO) is a set of proposals advocated by developing countries to end economic colonialism and dependency through a new interdependent economy. [ 1 ] [ 2 ] The main NIEO document recognized that the current international economic order "was established at a time when most of the developing countries did not ...