Well, this sounds a lot like the dependence theory, at least in part.

To my understanding, Dependence theory maintains that rich industrialized nations keep poor nations from advancing through various dependency relationships:

*Trade dependency:
Industrial nations perpetuate formal colonial patterns by purchasing raw materials at the lowest price possible, process them at home, and selling the finished products back to developing nations at many times the cost of the agricultural produce or raw materials.

*industrial dependency:
Corporations establish factories in the southern hemisphere and other places to take advantage of the cheap labor, gain access to local markets, gain tax advantages, and circumvent environmental and other goverment regulations in their home countries. This creates greater income inequality for middle and developing nations.

*Investment dependency:
International institutions (such as the World bank) also contribute to dependency relations. Foreign investors become the only "game in town", developing nations have to use most of their importing earnings to pay debts rather than attend the citizen's needs.

This theory "challenges" the Modernization theory which recognizes global development as a process in which advanced nations and technology help poor nations advance.

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Awarding rasch187 with one Power Point for fixing this video's dead embed code.