Economic sanctions have been practised by one state against another or an international body representing a number of states against an individual rogue state. It is an economic penalty that is given against a state for various reasons. It is again another factor of globalisation where economic sanctions can have a very huge effect on a country, its government and sometimes if not carefully thought through before applying, to its people. It has been a way of getting dictators and rogue states to accept International Law and release political detainees. At the same time it can be used by nations as a tool of war against another nation, for geo-political and national interests. These penalties can be trade barriers, import and export quotas, tariffs, import duties and others that can have the needed effect. In a world of competition and a global market, nation's economy is at stake as it is always competing against rising economical challengers as the like of China.
United States
United States
european union starsNapoleon was reported to have commented on China by saying, "China? There lies a sleeping giant. Let him Sleep! For when he wakes he will move the world." These words seems to be pretty real now, more of a threat for the Americans as they see the Chinese on their way to becoming a super power as its economical and military strength grows. China is currently trying to lift an arms trade embargo by the European Union which was imposed after Beijing crackdown pro-democracy demonstrators in Tianamen Square, in 1989. However, the European Union have indicated that there will be no early lifting until China improves its human rights records. This debate came about by the quick growing China-EU trade relationship. Countries like France and Germany are keen starts arms sale with China, hence been trying to get...