Economic Warfare Law and Legal Definition
Economic warfare refers to a hostile relationship between two countries or more countries in which one country tries to damage another country’s economy for economic, political or military purpose. Economic warfare is conducted through various collective measures such as:
1.Blockade;
2.Blacklisting;
3.Preclusive purchasing;
4.Rewards;
5.Capturing of enemy assets.
6.Boycotts.
Economic warfare was prominent during World War II. Economic warfare is used as defensive means by countries to maintain their economic potential and diminish the economic potential of an enemy nation and its allies. [Livadas v. Bradshaw, 512 U.S. 107 (U.S. 1994)].
