This refers to how European colonization from the 16th through early 20th centuries impacted economies globally. It often involved exploiting resources from colonized regions for economic benefit back home in Europe.
Imagine if you had an older sibling who constantly took your toys without asking. They then sold these toys for their own profit while you got nothing in return. That's similar to how European colonial powers exploited resources from their colonies.
Imperialism: A policy or ideology by a nation exerting power over another country either by force or establishing control indirectly.
Colonialism: The practice by which a powerful country directly controls less powerful countries and uses their resources for its own benefit.
Exploitation: The action or fact of treating someone unfairly in order to benefit from their work.
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