neocolonialism

The policy or practice of a wealthy or powerful nation in extending its influence into a less developed one, especially in exploiting that nation’s resources.

Control by a powerful country of its former colonies (or other less developed countries) by economic pressures. In contrast to colonialism, in which one country controls another territory by military force.

The control or domination by a powerful country over weaker ones (especially former colonies) by the use of economic pressure, political suppression and cultural dominance.

control by a powerful country of its former colonies (or other less developed countries) by economic pressures