The correct answer to this open question is the following.
Under early mercantilism, European nations sought to import raw materials from the Americas and ship manufactured goods to their colonies. The pattern has not changed in today’s world, but it has modified a little bit.
Even today, powerful nations are still exploiting third world countries' natural resources and raw material much needed in industrialized countries to manufacture products, that later are exported back to these underdeveloped countries. Instead of helping these underdeveloping countries to grow through education and investments to create companies and jobs, superpower nations trade these raw materials and that's it. They are not interested in developing those nations, they are just interested in their resources.
No, not really. Today you see many items in the US to be made in china or europe. we still trade today, however i am not aware if europe gets US products other than food and stores.
Foreign policy that is aimed aimed at controlling foreign trade by holding colonies and defending them against other foreign powers is: imperialism
Imperialism refers to the view that a country should dominate others in a certain way in order increase its power. Controlling foreign trades by holding colonies is a form of political and economical domination that was popular among Empires in Europe.
