Today modernization theory and dependency theory as they are defined are a thing of the past. It is associated with the de-colonization of non-western thinking under-developed countries. At this point some of the countries have surpassed the west and are dictating what the west should be doing in terms of communication and technology today.
For example, if you look at Malaysia, they are building cyber cities that are linked in and have more capabilities then say New York City. The dependency and modernization are slowly switching from East to West. Countries like Malaysia, Singapore and India will soon be dictating how the Westernized countries consume media and communications.
The interesting thing would be to see if in fact the tables turn on the west. Will one day Modernization Theory and Dependency Theory be associated with the East modernizing Western-thinking countries?
The other change from post-colonization is that NGO’s and other international organizations have taken interests in helping develop lesser-developed countries. These NGO’s usually are of the thought that countries should build from grass roots. Also not being associated with a government there are no governmental interests included in development plans, this then excludes the both the Dependency and Modernization Theory from being relevant.
In conclusion, Modernization and Dependency Theory are becoming less and less relevant today with the formation of NGO’s as well as the technological advancements in the East.