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How effective are economic sanctions as an instrument of coercive diplomacy?

Order Description
the module is “Understanding Global Politics 2015-16”

How effective are economic sanctions as an instrument of coercive diplomacy?

give examples to where it worked and not work, why do I think sanctions are or are not effective. also, I am required to link it to international relations theory. something like what liberalism has to say on the effectivity of sanctions. talk about Iran sanction and how they just reached today to end the sanctions on Iran, EU said.

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