Market for northern industry and southern agriculture
Latin American nations have tried to achieve economic independence by controlling their means of production. Oil producing Latin American nations have nationalized oil companies.
American investigators gained economic influence in the Caribbean primarily through the expansion of U.S. interests in the region during the late 19th and early 20th centuries. This was driven by a combination of factors, including the desire for strategic military locations, access to resources, and the promotion of American business interests. The implementation of policies such as the Monroe Doctrine and the Roosevelt Corollary further solidified U.S. dominance, allowing American investments and interventions to shape the economic landscape of Caribbean nations. These actions often resulted in a significant level of control over local economies and political systems.
Latin American nations remained economically dependent after gaining political independence primarily due to their reliance on export-oriented agricultural and raw material economies, which were heavily influenced by foreign interests. The lack of industrialization and investment in local economies hindered self-sufficiency, while foreign powers continued to dominate trade and finance. Additionally, political instability and weak institutions made it difficult for these nations to build independent economic structures, perpetuating their dependency on external markets and capital.
Having tasted economic independence for too long a period,the American colonist had no desire to return to the mercantilist policies endured by the colonies of the other European nations.
Economic System
Market for northern industry and southern agriculture
Latin American nations have tried to achieve economic independence by controlling their means of production. Oil producing Latin American nations have nationalized oil companies.
The Department of Commerce is responsible for promoting American interests in foreign trade by maintaining a network of offices that report on business activity in foreign nations. Through these efforts, the department aims to facilitate economic growth and enhance international trade opportunities for American businesses.
Dollar Diplomacy in Latin America referred to the use of economic leverage by the United States to advance its political interests in the region. It involved the encouragement of American investments and loans in these countries to strengthen US influence. However, it was criticized for prioritizing American business interests over the sovereignty of Latin American nations.
The presence of the canal might have seemed threatening to Latin American nations as it could have been viewed as a symbol of foreign dominance and control over their territory and resources. This could raise concerns about sovereignty, security, and potentially create economic imbalances by favoring the interests of the canal's operators over those of the local nations.
economic dependance on other nations
The Roosevelt Corollary to the Monroe Doctrine was a questionable extension of traditional American policy that declared the US' right to intervene in Latin American nations under certain circumstances. It asserted American power to protect its economic interests and maintain stability in the region. However, its implementation often resulted in military interventions and unilateral actions that interfered with the sovereignty of Latin American nations.
The Embargo Act of 1807, passed by Congress, aimed to prohibit American ships from trading with foreign nations, particularly in response to British and French interference with American shipping and impressment of sailors. The act was intended to apply economic pressure on these nations and protect American interests but ultimately led to significant economic distress within the United States. It was highly unpopular and was repealed in 1809, as it failed to achieve its objectives and caused widespread hardship among American merchants and farmers.
Wilson dispatched troops to several Caribbean nations to protect American interests and maintain political stability, including interventions in Haiti, the Dominican Republic, and Nicaragua. These actions were motivated by concerns over political instability, economic interests, and a desire to prevent European intervention in the region.
American foreign policy is carried out through a combination of diplomatic, economic, and military strategies. The U.S. State Department leads diplomatic efforts, engaging with foreign governments and international organizations to promote American interests and values. Economic tools, such as sanctions and aid, are employed to influence other nations' behavior. Additionally, the U.S. military may be used to protect national security interests or support allies, reflecting a multifaceted approach to global engagement.
Overdependence on foreign nations and a dramatic increase in population.
American investigators gained economic influence in the Caribbean primarily through the expansion of U.S. interests in the region during the late 19th and early 20th centuries. This was driven by a combination of factors, including the desire for strategic military locations, access to resources, and the promotion of American business interests. The implementation of policies such as the Monroe Doctrine and the Roosevelt Corollary further solidified U.S. dominance, allowing American investments and interventions to shape the economic landscape of Caribbean nations. These actions often resulted in a significant level of control over local economies and political systems.