Foreign Policy

“Open Door Policy” Secretary of State John Hay proposed a policy that would give all nations equal trading rights in China – Prevent any type of monopoly or trade with any part of China Reflected deeply held American beliefs about the U.S. industrial capitalist economy – Growth of the US depended on exports – US had the right to intervene abroad to keep foreign markets open – Feared closing an area to American products, citizens, or ideas threatened US survival

Roosevelt Corollary Outlined in President T. Roosevelt’s State of the Union Address – The US will intervene in conflicts between European countries and Latin American countries to enforce legitimate claims of the European powers, rather than having the Europeans press their claims directly. Expanded the Monroe Doctrine – The US had the right to exercise military force in Latin American countries to keep European countries out “Speak softly and carry a big stick; you will go far.”

Dollar Diplomacy President Howard Taft The goal of diplomacy is to create stability abroad and use private capital to further U.S. interests abroad “[a] policy aimed at furthering the interests of the United States abroad by encouraging the investment of U.S. capital in foreign countries,” Urged American banks and businesses to invest in Latin America Promised the US would step in if unrest threatened their investment

Venn Diagram Bullets Built a the Panama Canal Policy involved Latin America Policy involved Asia Protected economic interests of the U.S. Expanded the Monroe Doctrine Open Door Policy Dollar Diplomacy Roosevelt Corollary President of the US Secretary of State China Eliminate spheres of influence