The Expansion Of The Global North And Global South

1540 Words7 Pages
Within the last few decades, some believe that “21st Century globalisation has an elephant in the room. It is that industrialisation, having elevated the developed world to middle-class mass consumer status, is now moving in space to the former colonies and time to the 19thcentury in terms of labour costs and conditions.” It seems as if the modern world system is moving back to its era of colonisation for promoting unequal power-relations between the global North and the global South. Of course, this notion holds the truth as the North is home to the powerful, global leaders who shaped the world structures and institutions under their capitalist free-market ideology. Meanwhile, the less developed ones usually lose in these exchanges. Hence, this essay argues that the prevailing form of the neoliberal economy allows wealthy, industrialised countries to extend influence and control into the underdeveloped world. The West-dominated international financial institutions such instance, as the IMF in pinning loans to particular actions and GAP as an example of a large multinational corporation utterly demonstrated the way weak countries are exploited through their forced, unfettered access to capital, labour, and natural resources.
The historical phenomenon of colonisation is one that stretches around the globe and across time. Back in its heydey, European empires were prompted to compete with each other in the quest for gold, glory, and gospel. Even though formal colonialism has
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