The Chinese economy would be brutally transformed into the mightiest manufacturing nation based on western capital and on an abundance of cheap, high… - P. J. Cain

He was also extraordinarily sensitive to the ways that imperialists could cloak essentially materialist concerns in the language of morality, mission and destiny. Yet in the process and on more than one occasion he provided evidence to show that the financiers too were prisoners of imperial ideology, that they were as much wedded to causes like 'the civilising mission', as much mislead by hightened imperial rhetoric, as anyone else.

In tropical Africa, on the other hand, Hobson talked of 'lower races' who could only progress under western leadership

In 1938 and at the age of eighty, Hobson decided to republish Imperialism: A Study. By the late 1930s, public opinion was becoming much more critical of empire and imperialism: one prominent imperial historian of the time, W. K. Hancock, wrote that 'to...an increasing proportion of the ordinary public the "imperialist" is a robber and a bully'. Under growing Marxist influence there was also an increasing tendency to offer economic interpretations of imperial expansion and control. Encouraged by these trends and convinced that the looming conflict between Britain and France on the one side, and Germany, Italy and Japan on the other, was basically an attempt to re-divide the imperial spoils, Hobson decided that his ancient text was worth reprinting. But in republishing it, and despite adding a long preface, Hobson gave no indication that he had ever held different views.