Colonialism and Neo-Colonialism
When a country and its people are directly controlled by a foreign ruling power, through political and economic means, it is referred to as colonialism— India under the British rule. Neo-colonialism is this continued exercise of economic (and political) power by a foreign country without any formal (or direct) political control— the craze for Apple products among Indians adversely affecting Indian companies in the market and the maintenance of Political goodwill between the United States and India for India’s dependence on World Trade Organisation and International Monetary Fund being largely influenced by the United States.
Read: Colonialism – Meaning, Types, History and Evolution
Also Read: Neocolonialism: Explained with Examples