All national economies are now vulnerable to the inroads of larger, transnational markets within which trade is free, currencies are convertible, access to banking is open, and contracts are enforceable under law. In Europe, Asia, Africa, the South Pacific, and the Americas such markets are eroding national sovereignty and giving rise to entities—international banks, trade associations, transnational lobbies like OPEC and Greenpeace, world news services like CNN and the BBC, and multinational corporations that increasingly lack a meaningful national identity—that neither reflect nor respect nationhood as an organizing or regulative principle.
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