Neo – Colonialism is a situation in which a country is independent politically but still dominated by another country (usually strong and imperia list) economically, culturally, socially and even military with aimed at restoration (restoring) and preservation of the imperialist positions in the LDCs. This started after colonies achieve their independence in 20 th century up to 21 st century. The effects of Neo colonialism are as follow;
2. It led to perpetuation of economic exploitation of the LDCs by big powers that usually tend to exploit resources for their benefit by using the back door, hence LDC s tend to stagnate economically.
2. It led to economic dependence and problem due to export and import economy, harsh economic conditions, part by developed countries to the LDC s and control of the world market in which the prices of agricultural raw materials from LDCs keeps on changing due to price fluctuation.
3. Led to total underdeveloped due to economic, political and cultural evils imposed in the LDC s by the rich nations like; devaluation of currencies, cost sharing in social services, paying high interest rate from the loans offered in the LDC s and exploitation of the resources of the LDC s done by Neo –colonialism dairy in the LDCs.
4. It Led to low level of science and technology due to importation of ready manufacture goods in the LDC s hence people of the LDC s tend to consume goods which have already made; this stagnate the knowledge, skills and experience of the people in the LDC s to develop their science and technology.
5. It perpetuate cultural imperialism/impose western culture in LDCs; where by people of the LDCs tend to adopt, follow, respect and obey the cultural of Europeans such as dressing style, marriage, eating style and neglecting their own culture.
6. It led to acute poverty in the LDC s due to control of the world market and fixing the prices of agricultural raw materials from the LDCs, much exploitation of resources of the LDCs, heavy conditions imposed by colonialist in the LDCs e.g. accepting loans with high interest all these lead to acute poverty among the people in the LDC s.
7. It leads to continuation of the domination of the world market by imperialist powers. This is because the imperialist powers tend to dominate and control the world market for their own interest e.g. Rich nations tend to fix prices of the agricultural raw materials from LDC for their advantage while the products/manufactured goods from the rich nations are fixed in prizes in such a way that the LDC must be in disadvantage for them to benefit.
8. It Leads to heavy indebtedness i.e. (leads to too much debts) in the LDC s due to continuous borrowing from imperialist nations usually from rich and developed counties hence the LDC face the debt crisis daily and which have caused these developing countries to run bankrupt and fail to run their daily activities more smoothly.
9. It Leads to un balanced and unimplemented budget in the LDC s due to over reliance i.e. too much depending from foreign aids, grants and loans; this has caused a lot of projects and dip plans such as constructing welling, and dawn/provision of good social services, construction of infrastructure methods, improvement of agricultural prod not implemented by the government of LDC s.
10. It leads to death due to cooperation’s of Neo-colonialism in the LDC s like importing expired drugs, civil wars, etc. where the developed countries sell weapons to the fighting nation of same nation.
11. It has caused LDCs not to have say on their own internal matters because of the continuous controlling of the internal affairs by the foreign powers through neo-colonialism and its organizations e.g. Nigeria was suspended from its common wealth membership after it killed the Ogoni environmental activities and the written Keny Saro Wiwa in 1996, Zimbabwe after Mugabe annexed the Land from European settlers and announcement of the national election.