Neocolonialism

If the colonial plantation was the original extraction machine, Mexico’s IMMEX (Industria Manufacturera, Maquiladora y de Servicios de Exportación) program is its most sophisticated 21st‑century descendant. Launched in 2006 as a successor to the earlier maquiladora scheme, IMMEX now encompasses over 3,000 plants, employs more than 1 million workers, and accounts for roughly half of Mexico’s exports. Yet the economic structure remains eerily familiar: foreign ownership, low wages, minimal local value‑added, and a legal framework designed to repatriate profits rather than reinvest them.

The modern enthusiasm for Foreign Direct Investment (FDI) in developing countries often overlooks a troubling historical precedent. Before the era of global supply chains and special economic zones, there was the colonial plantation system. For centuries, European powers established enclave economies in Asia, Africa, and the Americas designed for one purpose: extraction.