The Marxist classics writers such as Lenin had excellent explication of imperialism，which for variousreasons have rarely been mentioned since the late 20th century，but is now being revisited，with the newname of neo－imperialism．This paper will use this new concept and analyses its historical background andcharacteristics．It is pointed out that neo－imperialism is the same as imperialism in essence yet possessessome new characteristics associated with the change of times．Though neo－imperialism seems mighty now，itcould not deny the fate of being displaced by socialism．The international financial crisis since 2008 provesthat imperialism is declining and socialism is rising after its downturn．

Editor: ZhongYao