And then we realized colonization is bad, so we agreed with the locals to leave and helped sort things out and set up their governments for them (they needed the help after all, the precious darlings) and then we packed up and left
Unfortunately, they were too primitive and stupid to run the country on their own so it became an impoverished shithole without our wise guidance. That's why we have to have the IMF come in and rescue them and hold their hands on what to do. Because non-white people are simply too stupid to have rich advanced nations. Colonization didn't have anything to do with this, in fact we gave them a headstart and they squandered it!
By the way, racism is evil and an eternal force of the universe that can never be defeated only temporarily repressed. It has nothing to do with colonialism either and has no basis in material history.