Can you offer a better word?

Looking at the general definition of colonialism... .. .

Whether it's colonialism, economic arbritrage.. if this is so bad, happy to learn other options.

Since there are no colonies involved, a better characterization would be: Free market capitalism under the rules-based order established by the US and its allies after the end of World War II. You could reasonably criticize that system, and many have, but it is not colonialism, except in the sense that colonialism is now used as a broad term for anything that feels exploitative.