Question

Isn’t globalisation a new name for imperialism? Why do we need a new name?

Answer 1

Globalisation and imperialism are related but not identical. Imperialism involved direct political control and exploitation by powerful states, whereas contemporary globalisation includes worldwide flows of commodities, capital, ideas, technology and people. However, critics argue that unequal globalisation may function like a new form of imperialism or re-colonisation when powerful countries and MNCs dominate weaker economies. The new term is useful because present-day interdependence operates through markets, technology and international institutions, not only through direct colonial rule.