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- W2008559440 abstract "The exclusive economic zone (EEZ) derives from the 1945 Truman proclamation on the continental shelf, though it has earlier antecedents. The new placement of about one-third of the sea under national jurisdiction has enormous implications. The benefits of the new maritime zone, for example, will not be shared equally by all coastal states, and the land-locked states lose completely resources to which they once had free access. The rights of the coastal state within its EEZ are considerable, and its obligations much fewer. The EEZ provisions in the 1982 UN Convention on the Law of the Sea (UNCLOS III) represent a balancing of interests, as does the system of dispute settlement specified in the Convention. The United States has not signed the Treaty on the grounds, among others, that the common heritage principle, which calls for sharing the resources under the high seas, goes against the fundamental principles of free enterprise, and that US corporations would have to give up potential profits without gaining any advantage in return. Such criticism is unsound for a number of reasons. The US claims that all of the Treaty's provisions, except for those on seabed mining, are already customary international law, but even if this were true in principle, the particular detailed provisions are probably binding only by agreement. The US cannot claim rights under the Treaty if it refuses to become a party to it, including the EEZ." @default.
- W2008559440 created "2016-06-24" @default.
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- W2008559440 date "1983-03-01" @default.
- W2008559440 modified "2023-09-27" @default.
- W2008559440 title "No treaty code for the seabed" @default.
- W2008559440 cites W2038043269 @default.
- W2008559440 doi "https://doi.org/10.1016/0301-4207(83)90034-x" @default.
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