Title: America- The Modern Day Imperialist
Headings: America- The Modern Day Imperialist
America- The Modern Day Imperialist
Content: The US transnational companies are allowed to exploit the economies of poorer nations with the help of its structural adjustment programs, imposed in return for a forgone debt. Such programs only worsen the crisis in these countries leaving the people with catastrophic consequences. This was pioneered during the Mexican currency crisis of 1982. With its emergency bailout plan, IMF coerced Mexico into implementing neoliberal programs which just lead to further deprivation in the country. The effect was destroyed lives and communities in Mexico and an improving US economy where the consumption of the urban middle class was subsidized by the impoverishment of the Mexican labor. Cultural imperialism, the promotion and imposition of a culture, usually of politically powerful nations is also a heavy trait of the US. It is not currently the only cultural imperialist. But today, as a global economic and political super power, the spread of American values in the entire world is leading to the spread of Western goods and consumerist culture. But this is effectively leading to the destruction of local markets and cultures, which is eroding any sense of cultural diversity in this constantly converging culturally hegemonic society. But this is not limited to just the influx of Western products and services but also Western ideas of freedom, free trade, democracy, etc.