Does Imperialism Exist Today?

Imperialism exists today, but not in the exact form practiced during the Roman Empire or the British Empire. A country exercises imperialism today by projecting its power and influence through military force, ideological control, capitalist accumulation and the dominance of international finance, trade, technology and science.

A modern imperialist state does not need to occupy foreign territory to dominate it, but it may, for its own interests, manage and control the exploitation of wealth and resources of its subject. To achieve its objectives, the more powerful country liaises with or fully supports corporations established in the subject state.

Capitalism is a major driver of modern imperialism as corporations, such as banks and oil companies, expand globally to generate more profits. It is backed by an ongoing revolution in science and technology that has seen a few people accumulate much wealth around the globe.

The domination of the global financial system, with the World Bank and the International Monetary Fund at the center, by a few world powers can be considered to be a modern form of imperialism. Dominant imperialist powers have promoted free trade primarily when their economies and industries are doing well enough to stand competition from weaker economies.