What term is used to describe the fact that countries of south are economically dependent on north?

The term used to describe the fact that countries of the South are economically dependent on the North is “dependency theory.” Dependency theory is a school of thought in economics that argues that the capitalist system creates an inherent disparity between developed countries (the North) and less developed countries (the South). The theory states that the wealth and power of the North is derived from its exploitation of the labor and resources of the South, perpetuating a cycle of poverty and underdevelopment in the latter.