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Yes!

    An effective world government must have sovereign power to deal with problems and issues which are beyond the scope of national governments because they are global in nature. A Federal system, in which the world government is at the center, and national governments deal with their own parochial issues and problems, is required.
    A Federal system is one in which each level of government has sovereign power at their respective levels.
    The United States is a Federal government in which sovereignty is shared between the Federal, state and local governments.