Contemporary Capitalism and Imperialism

Abstract

This chapter analysed the development of imperialism since 1945 and its relationship with capitalism. Today we have two empires, American empire and the Chinese empire. American empires were designed to promote the Western multinational companies. It followed the theory of Lenin, but the Chinese empire followed the theory of Schumpeter, that for national prestige empire is needed, as there are no Chinese multinational companies. While American empire was having indirect control or neo-colonialism of Lenin through the Western financial organizations, Chinese empire is following classical imperial control. This chapter has analysed the development of these two empires and their devastating consequences on Iran in 1953, Guatemala in 1957, Vietnam in 1955, Iraq, Libya, Nicaragua, Syria and most recently in Venezuela by the American empire and on Tibet, Mongolia, East Turkestan, Manchuria by Chinese empire.