Emergence of Europe’s drive to capital accumulation, 1500
Led to the colonization of Latin American, Caribbean, African and East Asian States.
The Extraction of Wealth (Natural Resources and Capital) from the colonies resulting in stagnation
Subsequent transfer wealth to the Europe facilitating industrialization and development (Walter Rodney: How Europe Underdeveloped Africa)
The persistent of culture of dependency even after colonialism. Third World-Producers/ First World Manufacturers