The world is witnessing a stark return to a past era of geopolitics, driven by competition for natural resources, according to analysts. This shift has been thrust into the spotlight by former U.S. President Donald Trump's recent actions and statements regarding Venezuela.
The Trump Corollary and a Doctrine Reborn
Central to this new dynamic is the reassertion of the 1823 Monroe Doctrine, a historical policy warning European powers away from the Americas. The U.S. national security strategy in 2025 explicitly invoked this doctrine, appending a new element dubbed the "Trump Corollary." This addition formally links American influence in the Western Hemisphere to control over the region's natural resources.
Trump's own boasts—that he would "run" Venezuela and that revenue from selling millions of barrels of its oil would be "controlled by me, as president"—have moved this strategic vision from theory to tangible global concern. His deployment of U.S. military might to seize Venezuelan oil assets underscores this pivot.
From Postwar Order to a New Age of Control
For centuries, global power was defined by spheres of influence and colonization fueled by the pursuit of resources like spices, gold, rubber, and oil. The postwar period established a framework of international law and trade rules, but experts argue this order is now fracturing.
"Suddenly the 19th century and the period before both world wars are beginning to echo much more loudly," says Daniel Yergin, an energy historian and vice-chair of S&P Global. He notes the world is moving away from confidence in globalization and free trade toward an era where "the visible hand of governments is... much more visible."
The dramatic U.S. actions in Venezuela, including the reported kidnapping of leader Nicolás Maduro, have few modern parallels. They highlight two overlapping shifts in American foreign policy thinking.
The China Catalyst and the Scramble for Minerals
The first major shift is a response to China's state-capitalist model. Beijing has built a near-monopoly on the rare earth elements vital for semiconductors and defense, and a dominant position in transition minerals like cobalt and nickel. This has triggered a slow-dawning recognition in Washington of the strategic vulnerabilities created by supply chain dependence.
That recognition received a "real electric jolt" in April 2025, Yergin points out, when China imposed export restrictions on rare earths in retaliation for Trump's tariffs. In response, Trump's policy seeks to expand U.S. industrial policy abroad to secure access to the energy and critical minerals needed to power its economy, supply its defense industry, and fuel advancements in artificial intelligence.
"The old thinking about what I call 'easy globalization' is increasingly out of the door," Yergin states. "Countries and governments, including the United States, are focusing much more on resilience, vulnerability and control."
The combination of these factors—the explicit "Trump Corollary," aggressive resource-focused actions in Latin America, and a strategic scramble to counter China's mineral dominance—signals what analysts describe as a definitive entrance into a new era of resource imperialism, where geopolitical might is once again directly tied to control of the earth's natural wealth.
