Definition of Economic colonialism
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Economic colonialism Definition from Encyclopedia Dictionaries & Glossaries
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Neocolonialism (also Neo-colonialism) is the geopolitical practice of using capitalism, business globalization, and cultural imperialism to influence a country, in lieu of either direct military control or indirect political control, i.e. imperialism and hegemony. The term neo-colonialism was coined by Ghanaian president Kwame Nkrumah, to describe the socio-economic and political control that can be exercised economically, linguistically, and culturally, whereby promotion of the culture of the neo-colonist country facilitates the cultural assimilation of the colonised people and thus opens the national economy to the multinational corporations of the neo-colonial country.
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