Answer: The correct option is " Option D. Corporations.
Explanation:
Neocolonialism in it's simplest term is when a nation gives aids to another nation, then use that aids been given to those nation to exert power on them. For example the U.S president called the Ukraine president to exert order on issues in Ukraine, because U.S is currently given Ukraine arms aids.
In neocolonialism, corporations are also used to exert power on another country, because corporation are recognized as a single body by the law. When a corporation has more power in the economy of a country, such corporation tends to influence the decision of the government of such country. For example U.S trade war with China was because both country's were fighting for who will have more power on the other country, using their corporate bodies in that country.
Therefore corporation has replaced sovereign state in neocolonialism, because corporation are single entity by the law, and can act as a single entity to hold its own power around its location.