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Financial control is being shifted to international organizations such as the World Trade Organization and the World Bank. The nation-state's power is diminishing drastically in three very important areas. These areas are defense, finance and welfare. In diminishing these powers, the nation-state is no longer concentrated on territory acquisition...
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The power to control their own currency is lost and the strength of beneficial organizations is reduced by the lack of investment of multinational companies. Social services are greatly hindered due to high taxation; governments no longer want to devote as much financial aid to organizations already in place to improve social welfare...
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General points of the essay
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