COLD WAR ERA
IMPACT OF COLD WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Dollar Diplomacy
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Dollar Aid
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the Dollar Plan
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None of the above
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Detailed explanation-1: -Dollar Diplomacy, foreign policy created by U.S. Pres. William Howard Taft (served 1909–13) and his secretary of state, Philander C. Knox, to ensure the financial stability of a region while protecting and extending U.S. commercial and financial interests there.
Detailed explanation-2: -Dollar Diplomacy, 1909–1913 From 1909 to 1913, President William Howard Taft and Secretary of State Philander C. Knox followed a foreign policy characterized as “dollar diplomacy.”
Detailed explanation-3: -In what became known as “dollar diplomacy, ” Taft announced his decision to “substitute dollars for bullets” in an effort to use foreign policy to secure markets and opportunities for American businessmen ([link]).
Detailed explanation-4: -In the end, a total of $13.6 billion (equivalent to $88 billion in 1997 money) was appropriated to the plan. The Marshall Plan was a success. By 1950, the participating countries had returned to, or exceeded, their prewar production levels.