The term economic terrorism is strictly defined to indicate an attempt at economic
destabilization by a group. More precisely, in 2005 the
Geneva Centre for Security Policy defined economic terrorism in the following terms:
Impact on supply chains
Financial terrorism (also known as economic terrorism) most commonly refers to the secret manipulation of a nation's economy by state or non-state actors. However, economic terrorism may also be unconcealed, arguably in the name of economic sanctions. Economic
terrorism
Terrorism, in its broadest sense, is the use of violence against non-combatants to achieve political or ideological aims. The term is used in this regard primarily to refer to intentional violence during peacetime or in the context of war aga ...
targets civilians of nations or groups in the pursuit of political aims.
Terroristic attacks against ports and land borders cause extra measures to be implemented to ensure the safe arrival of the product. These measures force the cost of exporting and importing goods to increase. Emerging economies are the most affected, because the slowing of exports and imports will affect the country’s ability to combat poverty. An increase in poverty can cause revolts among the population and possible political destabilization, forcing an even greater increase in poverty.
To counter piracy, governments and maritime industries must take preventative measures. The United States Maritime Administration says "These actions may include a larger military presence in high-risk areas, rerouting ships to bypass the Gulf of Aden, paying higher insurance premiums, hiring private security guards, and installing non-lethal deterrent equipment." The cost of these preventative measures is passed on to consumers and tax payers, ultimately directing money away from other areas of the economy.
See also
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Corporate warfare
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Critical infrastructure protection
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Cyberwarfare
Cyberwarfare is the use of cyberattack, cyber attacks against an enemy State (polity), state, causing comparable harm to actual warfare and/or disrupting vital computer systems. Some intended outcomes could be espionage, sabotage, propaganda, ...
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Destabilisation
The word destabilisation (alternatively, destabilization) can be applied to a wide variety of contexts such as attempts to undermine political, military or economic power.
Psychology
In a psychological context, it is used as a technique in brai ...
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Economic warfare
Economic warfare or economic war is an economic strategy used by belligerent states with the goal of weakening the economy of other states. This is primarily achieved by the use of economic blockades. Ravaging the crops of the enemy is a classic ...
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Sabotage
Sabotage is a deliberate action aimed at weakening a polity, government, effort, or organization through subversion, obstruction, demoralization (warfare), demoralization, destabilization, divide and rule, division, social disruption, disrupti ...
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State terrorism
State terrorism is terrorism conducted by a state against its own citizens or another state's citizens.
It contrasts with '' state-sponsored terrorism'', in which a violent non-state actor conducts an act of terror under sponsorship of a state. ...
References
Further reading
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Economic warfare
Terrorism by method
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