A policy whereby a major power uses economic and political means to perpetuate or extend its influence over underdeveloped nations or areas: "Strong elements of neocolonialism persist in the economic relations of the rich and poor countries” ( Scientific American).
The control or domination by a robust nation over weaker ones (especially former colonies) by way of economic pressure, governmental suppression and cultural dominance.
Control by a strong nation of the former colonies (or other less evolved countries) by economic pressures. In comparison to colonialism, by which one nation controls another area by military force.
control by a powerful country of the previous colonies (or other less developed countries) by financial pressures