What does «diplomacia del dólar» mean in Spanish?
- A derogatory phrase often used by critics to refer to the U.S. policy of employing government force to further American commercial interests in other countries, especially in Latin America. This phrase appeared during the Taft administration (1909-11) and was first applied to the program of Secretary of State Philander C. Knox. At that time, American commercial interests that were beginning to seek foreign fields of investment asked their government for diplomatic support; such a policy, far from being original, had already been adopted by all the great powers. President Taft spoke of "active intervention to procure for our merchandise and our capitalists such opportunity for lucrative investment as would secure the benefit of both countries concerned."