MultilateralismIn international relations, multilateralism refers to an alliance of multiple countries pursuing a common goal. Multilateralism, in the form of membership in international institutions, serves to bind powerful nations, discourage unilateralism, and gives small powers a voice and influence that they could not otherwise exercise. For a small power to influence a great power, the Lilliputian strategy of small countries banding together to collectively bind a larger one can be effective.
Nation stateA nation-state is a political unit where the state, a centralized political organization ruling over a population within a territory, and the nation, a community based on a common identity, are congruent. It is a more precise concept than "country", since a country does not need to have a predominant national or ethnic group. A nation, sometimes used in the sense of a common ethnicity, may include a diaspora or refugees who live outside the nation-state; some nations of this sense do not have a state where that ethnicity predominates.
TreatyA treaty is a formal, legally binding written agreement between actors in international law. It is usually made by and between sovereign states, but can include international organizations, individuals, business entities, and other legal persons. A treaty may also be known as an international agreement, protocol, covenant, convention, pact, or exchange of letters, among other terms. However, only documents that are legally binding on the parties are considered treaties under international law.
SovereigntySovereignty can generally be defined as supreme authority. Sovereignty entails hierarchy within the state, as well as external autonomy for states. In any state, sovereignty is assigned to the person, body or institution that has the ultimate authority over other people in order to establish a law or change existing laws. In political theory, sovereignty is a substantive term designating supreme legitimate authority over some polity. In international law, sovereignty is the exercise of power by a state.
TradeTrade involves the transfer of goods and services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market. An early form of trade, barter, saw the direct exchange of goods and services for other goods and services, i.e. trading things without the use of money. Modern traders generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning.
Free tradeFree trade is a trade policy that does not restrict imports or exports. In government, free trade is predominantly advocated by political parties that hold economically liberal positions, while economic nationalist and left-wing political parties generally support protectionism, the opposite of free trade. Most nations are today members of the World Trade Organization multilateral trade agreements. Free trade was best exemplified by the unilateral stance of Great Britain who reduced regulations and duties on imports and exports from the mid-nineteenth century to the 1920s.
World Trade OrganizationThe World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation in the United Nations System, governments use the organization to establish, revise, and enforce the rules that govern international trade. It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948.
International tradeInternational trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy) In most countries, such trade represents a significant share of gross domestic product (GDP). While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, scramble for Africa, Atlantic slave trade, salt roads), its economic, social, and political importance has been on the rise in recent centuries.
Vienna Convention on the Law of TreatiesThe Vienna Convention on the Law of Treaties (VCLT) is an international agreement that regulates treaties among sovereign states; the VCLT is a codification of customary international law and state practice concerning treaties. Known as the "treaty on treaties", the VCLT establishes comprehensive, operational guidelines, rules, and procedures for how treaties are drafted, defined, amended, and interpreted.
CommerceCommerce is the large-scale organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the transfer of goods and services on a large scale and at the right time, place, quantity and price from the original producers to the final consumers within local, regional, national or international economies. The English-language word commerce has been derived from the Latin word commercium, from com ("together") and merx ("merchandise"). Commerce is not business (i.
General Agreement on Tariffs and TradeThe General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis.
Treaty on the Non-Proliferation of Nuclear WeaponsThe Treaty on the Non-Proliferation of Nuclear Weapons, commonly known as the Non-Proliferation Treaty or NPT, is an international treaty whose objective is to prevent the spread of nuclear weapons and weapons technology, to promote cooperation in the peaceful uses of nuclear energy, and to further the goal of achieving nuclear disarmament and general and complete disarmament. Between 1965 and 1968, the treaty was negotiated by the Eighteen Nation Committee on Disarmament, a United Nations-sponsored organization based in Geneva, Switzerland.
Treaty of VersaillesThe Treaty of Versailles was a peace treaty signed on 28 June 1919. As the most important treaty of World War I, it ended the state of war between Germany and most of the Allied Powers. It was signed in the Palace of Versailles, exactly five years after the assassination of Archduke Franz Ferdinand, which led to the war. The other Central Powers on the German side signed separate treaties. The United States never ratified the Versailles treaty and made a separate peace treaty with Germany.
NationA nation is a large type of social organization where a collective identity has emerged from a combination of shared features across a given population, such as language, history, ethnicity, culture, territory and/or society. What constitutes a nation can vary widely, as some nations are constructed around ethnicity (see ethnic nationalism) while others are bound by political constitutions (see civic nationalism and multiculturalism). A nation is generally more overtly political than an ethnic group.
