A state in the grip of neo-colonialism is not master of its own destiny. It is this factor which makes neo-colonialism such a serious threat to world peace.

–Kwame Nkrumah – 1909-1972.

In the world today, independence is a synonym for sovereignty. It was only sometime back when states were not states but colonies of empires. In those days, monarchies prevailed, committed to the purpose of extending their rule to lands afar. These colonialists orchestrated their arrival in would-be colonies very artfully, sometimes under the disguise of explorers and sometimes as benevolent tradesman. However, in this day and age, usurping a sovereign property does not seem like an ‘ethical’ act to commit. So for this purpose, the great powers constructed organisations. Under the garb of trade and aid, colonialism has taken an entirely new visage. In the 1980s, the International Monetary Fund (IMF) and the World Bank inaugurated what were known as Structural Adjustment Programmes. Under them, third world countries were given loans to improve their structural incompetence. However, this was merely a ploy used by the Western powers to expand trade and destroy local industry. By giving loans, the organisations gained the prerogative to interfere in state policies. Under economic globalisation, transnational corporations (TNCs) established themselves in countries where they could exploit labour by producing maximum outputs while giving them minimum wages. These corporations often dictated economic legislation within these states. TNCs have caused many damages to the environment in poor countries. In December 1984, an explosion at Union Carbide’s pesticide plant in Bhopal, India caused toxic gas to leak into the atmosphere, immediately killing 3,000 people. Mistreatment of locals is made justifiable by so called economic aid. Unfortunately, we have been fooled into thinking that we are being looked after.