Sentence:  In today's interconnected economies and societies, a formal independence is the opposite of gaining real <WSD>sovereignty</WSD> and control. This is because the excluded party would be absent from the table when decisions are made, unable to participate as choices are taken that, sooner or later, will affect them. 
Meaning of the word marked with <WSD> tags:  The state of making laws and controlling resources without the coercion of other nations.