Interesting link on Neocolonialism
Nov. 22nd, 2009 04:21 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
sunlit_musicHi all,
Check this out:
http://en.wikipedia.org/wiki/Neocolonialism
The following text is from the above wikipedia link:
Critics adherent to neocolonialism contend that private, foreign business companies continue to exploit the resources of post-colonial states, and that this economic control inherent to neocolonialism is akin to the classical, European colonialism practiced from the 16th to the 20th centuries. In broader usage, neocolonialism may simply refer to the involvement of powerful countries in the affairs of less powerful countries
Critics of neocolonialism[who?] portray the choice to grant or to refuse granting loans (particularly those financing otherwise unpayable Third World debt), especially by international financial institutions such as the International Monetary Fund (IMF), and the World Bank (WB), as a decisive form of control.
They argue that in order to qualify for these loans, and other forms of economic aid, weaker nations are forced to take certain steps favorable to the financial interests of the IMF and World Bank but detrimental to their own economies. These structural adjustments have the effect of increasing rather than alleviating poverty within the nation.
Some critics[who?] emphasize that neocolonialism allows certain cartels of states, such as the World Bank, to control and exploit usually lesser developed countries (LDCs) by fostering debt. In effect, third world governments give concessions and monopolies to foreign corporations in return for consolidation of power and monetary bribes.
In most cases, much of the money loaned to these LDCs is returned to the favored foreign corporations. Thus, these foreign loans are in effect subsidies to corporations of the loaning state's. This collusion is sometimes referred to as the corporatocracy. Organizations accused of participating in neo-imperialism include the World Bank, World Trade Organization and Group of Eight, and the World Economic Forum. Various "first world" states, notably the United States, are said to be involved, as described in Confessions of an Economic Hit Man by John Perkins.
A penny for your thoughts...
Check this out:
http://en.wikipedia.org/wiki/Neocolonialism
The following text is from the above wikipedia link:
Critics adherent to neocolonialism contend that private, foreign business companies continue to exploit the resources of post-colonial states, and that this economic control inherent to neocolonialism is akin to the classical, European colonialism practiced from the 16th to the 20th centuries. In broader usage, neocolonialism may simply refer to the involvement of powerful countries in the affairs of less powerful countries
Critics of neocolonialism[who?] portray the choice to grant or to refuse granting loans (particularly those financing otherwise unpayable Third World debt), especially by international financial institutions such as the International Monetary Fund (IMF), and the World Bank (WB), as a decisive form of control.
They argue that in order to qualify for these loans, and other forms of economic aid, weaker nations are forced to take certain steps favorable to the financial interests of the IMF and World Bank but detrimental to their own economies. These structural adjustments have the effect of increasing rather than alleviating poverty within the nation.
Some critics[who?] emphasize that neocolonialism allows certain cartels of states, such as the World Bank, to control and exploit usually lesser developed countries (LDCs) by fostering debt. In effect, third world governments give concessions and monopolies to foreign corporations in return for consolidation of power and monetary bribes.
In most cases, much of the money loaned to these LDCs is returned to the favored foreign corporations. Thus, these foreign loans are in effect subsidies to corporations of the loaning state's. This collusion is sometimes referred to as the corporatocracy. Organizations accused of participating in neo-imperialism include the World Bank, World Trade Organization and Group of Eight, and the World Economic Forum. Various "first world" states, notably the United States, are said to be involved, as described in Confessions of an Economic Hit Man by John Perkins.
A penny for your thoughts...
