A Code of Conduct would do more to Preserve a Nation's Ability to Operate in Space than Limit It
Established and agree-upon rules in space will increase security for all nations. If there are understood acceptable behaviors of satellites it will be easier to identify when nations break such rules. It will also be politically easier to form coalitions to respond to such breaches. It will encourage nations to invest in the peaceful uses of space and to develop spacecraft that are potentially transformational, such as autonomous satellites, but not strategically provocative since they will adhere to responsible behaviors. Rules of the road which prevent dangerous actions will increase space assurance and therefore a nation's ability to operate in space. In short, rules of the road increase the freedom of action of nations as opposed to limit it.
Katz-Hyman, Michael. "Proximity Operations in Outer Space: The Case for a Code of Conduct." INESAP Information Bulletin. No. 26 (June 2006): 64-67. [ 4 quotes ]
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