this post was submitted on 05 Apr 2025
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That depends on what definition you use, there are multiple:
The first is essentially imperialism, which is terrible, but the other three rock since they tend to lift both sides of the transaction (cheap labor for me means jobs and opportunities for you). As long as the poorer countries aren't completely corrupt, they tend to turn into industrialized countries through the process of globalization (first export raw materials, then refined materials, then parts of products, then finished products, then they outsource the first few steps).
Don't throw the baby out with the bathwater. Free trade is a good thing, even if it tends to promote consumerism, but imperialism is never a good thing.