Abstract

Colonialism redux
Khor, Martin | July 15, 1996 issue

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Colonialism is making a comeback. For centuries, governments and corporations of industrial nations, backed by military power, exploited resources and markets of poorer countries. Now the former colonial powers are in the process of regaining the right of transnational companies to dominate economies of their former colonies, this time through trade agreements. For developing nations, new rules have profound implications. Many countries have adopted policies that favor the growth of local companies. Some give them tax breaks and preference in government contracts and indigenous banks are offered protections not available to foreign ones. Governments justify such policies in the name of national development.

See Also:

INTERNATIONAL business enterprises; FEDERAL government; IMPERIALISM; COMMERCIAL treaties; PUBLIC contracts; TAX deductions; DEVELOPED countries
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