Essay about Dollar Diplomacy - 1577 Words

Dollar Diplomacy Ever since the 17 republics of mainland Latin America emerged from the wreck of the Spanish Empire in the early 19th century, North Americans had viewed them with a mixture of condescension and contempt that focused on their alien culture, racial mix, unstable politics, and moribund economies. The Western Hemisphere seemed a natural sphere of U.S. influence, and this view had been institutionalized in the Monroe Doctrine of 1823 warning European states that any attempt to extend their system to the Americas would be viewed as evidence of an unfriendly disposition toward the United States itself. On the one hand, the doctrine seemed to underscore republican familiarity, as suggested by references to our sister†¦show more content†¦rights to the naval base. In the Roosevelt Corollary (1904) to the Monroe Doctrine the United States assumed an international police power in cases where Latin-American insolvency might lead to European intervention. Foreign intervention in Latin American resurfaced as an issue in U.S. foreign policy at the turn of the century as European governments began to use force to pressure several Latin American countries to repay their debts. For example, British, German, and Italian gunboats blockaded Venezuela’s ports in 1902 when the Venezuelan government defaulted on its debts to foreign bondholders. Many Americans worried that European intervention in Latin America would undermine their country’s traditional dominance in the region. Quoting an African proverb, Roosevelt claimed that the right way to conduct foreign policy was to speak softly and carry a big stick. Roosevelt resorted to big-stick diplomacy most conspicuously in 1903, when he helped Panama to secede from Colombia and gave the United States a Canal Zone. Construction began at once on the Panama Canal, which Roosevelt visited in 1906, the first president to leave the country while in office. He considered the construction of the canal, a symbol of the triumph of American determination and technological know-how, his greatest accomplishment as president. As he later boasted in his autobiography, I took the Isthmus, started the canal and then leftShow MoreRelatedDiplomacy As A Communication Process Of International Relations2440 Words   |  10 PagesIn the field of International relations, one of the most important instruments is referred to as Diplomacy. Diplomacy according to various scholars is extremely important in the process of implementing a country’s foreign policy and its various objectives in the international community. Some scholars describe diplomacy as a communication process between international actors that seek through negotiation to resolve certain issues and also to push their foreign policy objectives. 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