economic dependency
Needing another's resources
Economic dependency is a condition where one entity—a person, region, or nation—relies heavily on another for financial support or economic activity.
A spouse without independent income has economic dependency on their partner.
Countries may develop economic dependency on a single export commodity or trading partner, leaving them vulnerable to external shocks.
The region's economic dependency on tourism made the pandemic devastating.
- trade imbalanceUnequal imports versus exports
- trade deficitImports exceed exports financially
- debt burdenTotal owed obligations weighing down
- foreign aidCross-border governmental help
- debt servicingPaying what's owed
poverty cycle · colonialism · mercantilism · exploitation · colonial legacy · hegemony · resource extraction · imperialism · income inequality · welfare programs · globalization · resource scarcity · social safety net · underdevelopment · geopolitics · unemployment benefits · foreign · leverage
economic dependencyeconomic independence
Financial self-sufficiency
self-sufficiency · economic autonomy · autarky · financial independence · self-reliance