ECONOMIC SANCTION Meaning and
Definition
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Economic sanction is a term used in international relations and economics to refer to the imposition of trade barriers or limitations on economic activities by one country or a group of countries against another. It is a tool employed to incentivize a change in behavior, policies, or practices of a target country, typically with the intention of resolving specific disputes, conflicts, or addressing perceived violations of international norms or human rights.
Such sanctions can take various forms, including trade embargoes, import/export restrictions, financial restrictions, asset freezes, and tariff increases. The primary aim of economic sanctions is to exert economic pressure on the target country, which may negatively impact its economy, trade, and investments. This, in turn, intends to coerce the nation into adhering to specific demands or altering certain policies.
Economic sanctions can be imposed unilaterally by a single country or multilaterally by a group of nations or international organizations. The United Nations and regional blocs like the European Union often impose collective economic sanctions. Sanctions can be comprehensive, targeting all aspects of a country's economy, or selective, concentrating on specific industries, individuals, or activities.
The effectiveness and consequences of economic sanctions are subject to debate. Proponents argue that they can be a powerful diplomatic tool, promoting non-violent resolution of conflicts, maintaining international order, and addressing human rights concerns. However, critics argue that sanctions often harm innocent populations, exacerbate economic inequality and poverty, create humanitarian crises, and may not always achieve the desired outcomes.
In summary, economic sanctions are coercive measures used to influence the behavior of a target country by restricting or hindering its economic activities, and they can be imposed unilaterally or multilaterally.
Common Misspellings for ECONOMIC SANCTION
- wconomic sanction
- sconomic sanction
- dconomic sanction
- rconomic sanction
- 4conomic sanction
- 3conomic sanction
- exonomic sanction
- evonomic sanction
- efonomic sanction
- edonomic sanction
- ecinomic sanction
- ecknomic sanction
- eclnomic sanction
- ecpnomic sanction
- ec0nomic sanction
- ec9nomic sanction
- ecobomic sanction
- ecomomic sanction
- ecojomic sanction
- ecohomic sanction
Etymology of ECONOMIC SANCTION
The word "economic sanction" has its roots in Latin and English.
The term "economic" originates from the Latin word "oeconomicus", meaning "relating to household management or administration". It is derived from the Greek word "oikonomikos", which is a combination of "oikos" meaning "house" and "nomos" meaning "law" or "management". The term evolved in English to refer to matters pertaining to the management and distribution of resources, especially in the context of trade and finance.
The word "sanction" comes from the Latin word "sanctio", meaning "a decree or law". It derives from the verb "sanctus", meaning "to consecrate or make sacred". In English, "sanction" refers to an authoritative action taken to enforce obedience to a law or rule, often involving the imposition of penalties or restrictions.
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