Creative Head, Consultant Social Networking, Software
Advanced nations understand that economies are best sustained by the cycle of production and destruction, and they do everything to keep this going for their countries. They are conscious of their material superiority and they work for retaining it by protecting own wealth and by acquiring that of the others. They are not very pleased with the attrition of their imperial and colonial strength of the past. To sustain this supremacy they adopt a two-pronged strategy; self-protection by innovative satellite based defence systems, and muscle flexing by deploying highly mobile lethal weapon systems at strategic locations all around the world.
Prolonged deliberations and experimentation has given them an innovative gear, the financial imperialism, which is the technique for acquiring wealth from the developing countries without physically occupying their land. Financial imperialism is steered by turning the wheel of international trade in their favour. It comprises sale of high cost weapon systems, currency control, monopolistic trade practices, import of low cost labour forces etc.
The conventional wars of the past are now out of vogue and possibly obsolete. In any case, it is expensive, cumbersome and dangerous to operate in that manner. Colonialism is not an option any more. Even peacekeeping is a risky bet. Financial imperialism is the answer. Adam Smith’s magnum opus, ‘the wealth of nations’ needs to be rewritten now with the title as ‘the wealth of other nations’.
This reincarnated form of imperialism operates through financial and political processes and uses cultural imperialism as its ally. Unlike in the physical colonisation, the subjugated citizens would perhaps never awaken to demand freedom from financial imperialism; instead, they would wither in its slavery.
This mechanism operates on the economy of the victimised country by manipulating the mindset of its political leadership and citizens. It uses political acumen to exploit the greed for money and power of political leaders. Economic experts may call financial imperialism as simple mercantilism, but they forget that there is much more politics involved in financial imperialism than in mercantilism. Financial imperialism incorporates itself by three distinct mechanisms
This new paradigm of operations is not violent therefore; financial imperialism should be an easy battlefield to repel even with the docile nature of the Indian citizens. What use the creative, innovative and versatile mind of the Indians is if it cannot convert from being recipients of imperialism to manipulators of that game. Our advantage is that we have a large domestic consumer market, something that the others are seeking to target. One cannot direct the winds, but one can adjust one’s sails. Of course, all the systems of wealth generation ie agriculture, industry and trade must first be upgraded to high standard for this to happen.
 Imperialism, as defined by Dictionary of Human Geography, is ‘the creation and/or maintenance of an unequal economic, cultural and territorial relationship, usually between states and often in the form of an empire, based on domination and subordination.’ The term imperialism should not be confused with colonialism as it often is. Imperialism involves ‘the practice, the theory and the attitudes of a dominating metropolitan centre ruling a distant territory’. Colonialism refers to the ‘implanting of settlements on a distant territory’.