how colonization impacted LDC economically in the past and today with neo-colonialism
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Neocolonialism is the practice of using capitalism, globalisation, cultural imperialism, and conditional aid to influence a developing country instead of the previous colonial methods of direct military control (imperialism) or indirect political control (hegemony).
Neocolonialism differs from standard globalisation and development aid in that it typically results in a relationship of dependence, subservience, or financial obligation towards the neocolonialist nation. This may result in an undue degree of political control [1] or spiraling debt obligations,[2] functionally imitating the relationship of traditional colonialism.
Coined by the French philosopher Jean-Paul Sartre in 1956,[3][4] it was first used by Kwame Nkrumah in the context of African countries undergoing decolonisation in the 1960s. Neocolonialism is also discussed in the works of Western thinkers such as Jean-Paul Sartre (Colonialism and Neocolonialism, 1964)[5] and Noam Chomsky (The Washington Connection and Third World Fascism, 1979).