Western nations have devised newer, subtler ways of looting countries such as India. It is the new imperialism – looting others ad enriching themselves!

UK And Other Developed Countries Continue to Loot India’s Wealth english imperialism THE NEW IMPERIALISM

  1. It used to be colonisation and military force earlier – a straight and unfeigned design to loot other nations and enrich the home country. This type of imperialism isn’t possible in these more ‘enlightened’ times, so developed nations have had to find more subtle ways to loot others and enrich themselves.
  2. Western nations such as the United States, the United Kingdom and others now target so called high net worth individuals (read ‘rich people’) and induce them to move to their countries. They hold out blandishments of fast tracking permanent residence for those high net worth individuals and then make it financially difficult for them to leave. Ergo the high net worth individual is forced to stay on; more importantly their money stays there as well.
  3. IMPERIALISM THE NEW IMPERIALISMAn estimated 52 Indian millionaires have moved to Britain since 2008. The UK has a special visa category aimed at such people who will be able to invest in their adopted country. Quick permanent residence is promised to them in return.
  4. This policy required a minimum investment of a million GBP which is now increased to two million pounds. The policy has targeted Chinese and Russian millionaires as well as Indian high net worth individuals.
  5. It is a straight, undisguised quid pro quo: investments of £2 million, £5 million or £10 million, will give you permanent residence for 5, 3 and 2 years respectively.
  6. gty Eduardo Saverin nt 120511 wblog THE NEW IMPERIALISMThese countries continue to milk these high net worth individuals by way of heavy taxes, even making it difficult for people to leave at a later date. The example of Eduardo Saverin, the co-founder of Facebook is a case in point. Born in Brazil, he became an American citizen in 1998; then in 2012, he decided to give up his US citizenship in order to reduce his tax bill. To his dismay however, Saverin found that his exit tax bill would be astronomical as well; he would have to pay $600 million just to leave! (Source – The Telegraph)
  7. So the western imperialist nations continue to loot us; albeit in subtler, more covert ways – same wine different bottle.


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