Dollar Diplomacy

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Dollar Diplomacy was a foreign policy created by President William Howard Taft and Secretary of State Philander C. Knox. It was made to ensure financial stability of a region while protecting Americas financial interest. Instead of committing to military governments he wanted to help governments improve their economies by becoming more legitimate. He also wanted to help  improve the United States and to limit the other great powers and Dollar diplomacy helped do that. U.S financial interests helped build railroads, canals, and roads for trade in other countries. Some say Dollar diplomacy was a failure because some say it led to global conflict through competition.   http://history.state.gov/milestones/1899-1913/dollar-diplo

Map Chart in Dollar Diplomacy

Map Chart in Dollar Diplomacy (Photo credit: Crossett Library Bennington College)

 

Dollar diplomacy was most effective in the Western hemisphere.  American businessmen invested their money in Latin american resources and cheaper labor. The Panama Canal and American fruit companies such as Dole were built with Dollar Diplomacy. This is how America kept its sphere of influence.  I think the places like the Middle East are divided because of  Dollar Diplomacy. Those who felt like they were losers felt left out and may resent power from America.
Do you think American business help give the United states more authority in the world?
Sometimes it may cause resentment to people of the American culture because it seems that Americans only are interested in their own profit.
Do you think the terrorists of 9/11 targeted the World Trade Center because of extreme resentment over Dollar Diplomacy?

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