Dependency theory shows how European colonizing powers blocked the emergence of industrial capitalism in the global south.

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Dependency theory argues that underdeveloped nations are not able to achieve economic growth because they are dependent on developed nations for resources and investment. European colonizing powers exploited the resources of their colonies and did not allow for the development of industry in those areas. This prevented the global south from transitioning to industrial capitalism, which is seen as a necessary step for economic development.

Dependency Theory Shows How European Colonizing Powers Blocked the Emergence