Naya Istimar - New Colonialism - Dr Israr Ahmad

Dr. Israr Ahmad discusses the historical shift from direct colonial rule – exemplified by European powers establishing governments in Africa and Asia – to a new form of colonialism driven by financial institutions. He contrasts the past, where colonial powers maintained armies and suppressed local populations, with the current system where global financial entities like the World Bank and IMF exert control. He argues that this new colonialism doesn’t require direct governance but operates through financial dependence, extracting wealth from nations while offering just enough to maintain the system. He draws a parallel to a horse-cart driver providing minimal sustenance to their horse, ensuring continued labor in exchange for the majority of earnings, suggesting the world is similarly trapped in a cycle of dependency.

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