Dollar diplomacy, the u.s. foreign policy that emphasized economic investment and loans from American banks, rather than direct military intervention, was the policy of William Howard Taft.
What did Taft mean by "dollar diplomacy"?
- Dollar diplomacy was a tactic used by the United States, particularly under William Howard Taft's administration (1909–1913), to avoid using or threatening to use military force and instead advance.
- Its objectives in Latin America and East Asia by using its economic might by guaranteeing loans made.
Dollar diplomacy: What was it?
- Dollar diplomacy was the practice of extending American influence abroad through the use of financial leverage rather than military force (the Big Stick).
- In essence, it meant enslaving other countries to the dollar so that they would accept America.
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