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Fear is often the motivator in SoI so you should be able to declare war in your SoI, but influence should be a lot harder to get when you dont have a land border or distance is great.
 
Sphereing/Satelites

I guess this really begs the following questions...

1: Why bother adding a country to your sphere? What advantage, if any, do you get from it? Just seems like land you are forbidding yourself from ever conquering. You miss out on the population and resources that land has

2: What point is there to releasing land as a dominion/domain or satellite? Again, seems like you are just weakening your own nation by giving up land and resources.

I could see sphereing if there was a way, an option, to diplo-annex them later as was the case in EU3. But I really have to ask, as I am in a game as Japan and I don't see any point to adding a country to my sphere. (Also Transvaal just had a gold rush, and I got a free conquest CB on them which almost never happens. Sadly, I added Transvaal and Zulu to my CBs to try and checkmate the UK's South African interests)
 
Well spheres don't come with infamy like conquering does. And IRL cultural assimilation doesn't work as smoothly as it does in V2. Local governance is prized amongst your many peoples, and if you're ruling the world from Paris, there will be some disharmony as you must create taxes and rules to suit the many different cultures of your realm.
 
It's not insurmountable; other GPs want countries like Mexico in their sphere. If you want to attack, just don't put any influence there, and eventually other GPs will build up enough influence to knock them out of your SOI. May take a few years but it seems to work well for me.
 
There is another way around this.

Spam research to Romanticism (or did it change in 1.2?) and get Manifest Destiny ASAP. Use influence to keep MEX out of all other SOIs until you meet the requirements. It shouldn't take that long. Just long enough to build a suitable army, at any rate.

With the changes to Mexico's army in 1.2, you shouldn't need high tech military inventions anyway.