What economic strategy characterized American foreign policy in the early 20th century? 🔊
The economic strategy that characterized American foreign policy in the early 20th century was known as "dollar diplomacy." This approach emphasized promoting American business interests abroad, particularly in Latin America and East Asia, using economic power rather than military intervention. It sought to expand American influence and stabilize regions while encouraging trade. The intention was to substitute financial leverage for military force, thereby creating a more favorable environment for American investments and securing markets. Dollar diplomacy was most closely associated with President William Howard Taft's administration in the 1910s.


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