Economic imperialism

Definition

Economic imperialism refers to the practice of extending a country's influence over other nations or regions through economic means, rather than through military force or direct political control. This often involves the establishment of trade relationships, investments, and the manipulation of local economies to benefit the imperial power. In the context of rising militarism and expansionism, economic imperialism can be a driving force behind aggressive foreign policies, as countries seek to secure resources and markets to support their growth and military ambitions.

5 Must Know Facts For Your Next Test

1. During the early 20th century, Japan adopted economic imperialism as a strategy to secure raw materials and markets for its rapidly industrializing economy.
2. Japan's expansion into China and Korea was driven by the desire to access resources like coal and iron, essential for its military and industrial needs.
3. Economic imperialism allowed Japan to establish spheres of influence in Asia, where it could exert control over local economies while avoiding direct colonial rule.
4. The exploitation of resources in occupied territories often led to severe consequences for local populations, including economic dependency and social disruption.
5. Japan's focus on economic imperialism contributed to tensions with Western powers, who also sought to dominate Asian markets and resources during this period.

Review Questions

• How did economic imperialism influence Japan's foreign policy during its rise as a militaristic power?
  • Economic imperialism significantly shaped Japan's foreign policy as it sought to assert itself as a regional power. By prioritizing access to vital resources through expansion into China and Korea, Japan aimed to fuel its industrial growth and military capabilities. This strategy not only solidified Japan's position in Asia but also set the stage for conflicts with other powers vying for control over similar territories and resources.
• Evaluate the consequences of economic imperialism on the countries targeted by Japanese expansion during this period.
  • The consequences of Japanese economic imperialism on targeted countries were profound. In both China and Korea, local economies became heavily reliant on Japanese investments and trade practices that favored Japan. This dependency often stunted local development and led to social unrest as populations faced exploitation and loss of autonomy. The transformation of these economies created lasting impacts that would contribute to tensions both during and after Japanese occupation.
• Assess how economic imperialism played a role in shaping Japan's identity as an emerging global power in the early 20th century.
  • Economic imperialism was crucial in shaping Japan's identity as an emerging global power by showcasing its ability to compete with Western nations economically and militarily. As Japan successfully engaged in resource extraction and established itself within regional markets, it fostered a sense of national pride and unity. This shift not only legitimized its expansionist policies but also allowed Japan to reframe itself as a leader among Asian nations against Western dominance, setting the stage for its later military engagements in World War II.

Related terms

Colonialism: The policy of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.

Mercantilism: An economic theory that emphasizes the importance of accumulating wealth through trade and the control of resources, often associated with colonial powers.

Resource exploitation: The process of extracting and utilizing natural resources from a region, often without regard for the ecological or social consequences.