Economic Vulnerability of Small Powers

In: Journal of geography, politics and society, Band 13, Heft 3, S. 1-12

Abstract

The purpose of this article is to identify the national security challenges of a small state, to highlight their external and internal aspects; based on the research, develop a rational economic and political strategy for small powers. The paper is based on the analysis and synthesis of various fundamental literature and specific statistical data. The paper draws conclusions using causeand-effect relationships of facts. Important conclusions and recommendations are presented on key issues and challenges around small countries. This article concerns countries with small powers and their essential features – especially security, economic development, political stability, and foreign policy. It is also well understood today that threats of a military and nonmilitary nature are closely linked and that the aggravation of one leads to the aggravation of another. The systemic approach has taken root in the study of security issues, which involves discussing not just one but all of the potential threats in relation to one another and in one another's context. The results of this study indicate that no matter how flexible a small country's foreign policy is and how quickly it responds to changing conditions and events, it must still define its own strategic goal and make strategic choices. In determining its own national security priorities and foreign policy strategy, a small country must be more precise and infallible than a strong one. A small state that makes the wrong choice in its survival strategy is usually doomed.