[vishnugupta]

> West has....abandoned it as a policy.

Has it though? They don't do it overtly but through IMF. When a debt ridden country approaches IMF for help that help comes with heavy strings attached such as cutting down social spending, and privatisation. And IMF is controlled by ex-colonial nations. Even a developed nation like Greece got a taste of it. The funny thing is through a debt ridden country IMF is in fact helping debtors who are mostly western entities.

There are quite a few layers here to peel but safe to say west hasn't abandoned their policy just that they outsourced it to IMF.