Neocolonialism of the Tech Industry: How Does it Affect the Emerging Markets?

Abstract

The neocolonialism of the U.S. Tech companies has shaped the global culture of our modern society. Through the agencies of Marxist Dependency Theory and Cultural Hegemony, the American Tech conglomerates like Amazon, Facebook, and Google, ensure their own economic growth and power over the Global South. In this paper I talk about how these Big Tech companies exploit human labor and resources in economically poorer countries leading to income inequality and jobless growth; they restrict the economic development of these countries by monopolizing the market with Big Data and digital infrastructure; and they control news and media reaching millions of users faster and more effectively, and influencing government policies and elections with the widespread use of social media platforms.

Keywords: Neo-colonialism, Modernity, Postmodernity, Emerging Markets, International Trade Policies, Algorithms, Big Data, Cultural Hegemony, Global South