neo-colonialism
neo-colonialismA term often applied to the economic situation of many former colonies after political independence has been secured. Neo-colonialist interpretations of economic development in the Third World suggest that, as a budget-saving and humanitarian act, political decolonization nevertheless left intact the West's monopolistic control over the production and marketing of goods in the former colonies. By using international law, corporate property rights, and the power of major commercial banks the former colonial powers could retain economic influence and control over their former dependent territories. In Marxist discourse this phenomenon is usually termed neo-imperialism.
Under neo-colonialism, as under direct colonial rule, the relationship between centre and periphery (or metropolis and satellite) is said to involve the export of capital from the former to the latter; a reliance on Western manufactured goods and...
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