In which part of the world did President Taft urge American banks and businesses to invest?
1 Answer
President Taft encourage U.S. investments in South and Central American, the Caribbean, and the Far East.
Explanation:
President William Taft pursued a program which became known as "dollar diplomacy". The program was designed to encourage U.S. investments in South and Central American, the Caribbean, and the Far East.
He implemented this foreign policy by using government officials to promote the sale of American products overseas. In particular, heavy industrial goods and military hardware.
For Taft, the U.S. military was a tool of economic diplomacy. He invited U.S. banks to rescue debt-ridden Honduras with loans and grants, and he sent 2,700 U.S. Marines to stabilize Nicaragua's conservative, pro-U.S. regime when rebels threatened to overthrow its government.
