Part II International Economic Law as an Order of Rules and Principles, VI Sovereignty and International Economic Relations
- Standards of treatment — Sovereignty — Conflict of laws — Diplomatic immunity — Immunity from jurisdiction — Act of state doctrine
States are masters of and over their own territory. They have personal jurisdiction over their nationals, individuals, and corporations alike. Thus, States enjoy broad powers to pursue and enforce regulatory interests in an economic context. Each State enjoys freedom from any unilateral constraints and undue interference imposed upon them by other States. This conglomerate of powers and self-determination is commonly called sovereignty.1 In an economic context, the Charter of Economic Rights and Duties of States of 19742 reflects the classic concept of State...