Economic colonialism
From Wikipedia, the free encyclopedia.
Simply stated, economic colonialism is colonialism, but only in terms of business or economics. (see also New Imperialism & Neo-colonialism)
Typically, wealthy countries will invest capital in underdeveloped nations, and turn make a profit. This can be viewed as exploitation or development of an underdeveloped nation's labor or other resources. Usually such investments by wealthy countries come with conditions, a prime example of this would be selling off of public resources like water systems to private western companies. Such transfers of public resources for private profittering are not uncommon in western countries as well (see rise of HMOs in America).
