Reassessing Dependency Dynamics: Colonialism’s Enduring Influence on Global Economic Structures

Abstract

Colonial powers have asserted political control, economical supremacy, and cultural hegemony over colonized regions, resulting in long-term inequalities and dependencies. Colonialism is a historical and enduring phenomenon, has profoundly shaped global socio-political and economic structures. Even post-colonialism, exploitation of third world countries persists unabated. New iterations of neocolonialism and cultural imperialism have evolved to sustain this exploitation. Dependency theory in globalization looks at how poorer countries rely on richer ones and international financial organizations. It criticizes how this creates unequal power and economic relationships. It says these dependencies stop countries from being economically independent and keep global inequalities going.