Dollar Diplomacy

-Dollar Diplomacy is the effort of the United States, under President William Howard Taft, to further its aims in Latin America & East Asia through use of its economic power by guaranteeing loans made to foreign countries. Under Taft the State Department was more active than ever in encouraging and supporting American bankers& industrialists in securing new opportunities abroad.

-American loans were given in 1913, & Latin America. Latin Americans tend to use the term "Dollar Diplomacy" disparagingly to show their disapproval of the role that the U.S. government and U.S. corporations have played in using economic, diplomatic & military power to open up foreign markets.