key term - Economic interests

Definition

Economic interests refer to the motivations driven by financial gain and resource acquisition that influence policies, decisions, and actions of nations or groups. In the context of American imperialism and expansionism, economic interests were a significant factor, as the U.S. sought to secure markets for its goods, access raw materials, and establish trade routes to enhance its economic power and influence globally.

5 Must Know Facts For Your Next Test

1. During the late 19th and early 20th centuries, American businesses pushed for overseas expansion to find new markets for their goods, particularly in Asia and Latin America.
2. The annexation of Hawaii in 1898 was largely driven by economic interests, as American sugar planters sought to secure favorable trade conditions and prevent tariffs on their products.
3. The Spanish-American War in 1898 was influenced by economic motivations, particularly concerning American investments in Cuba and access to Caribbean markets.
4. American economic interests were a driving force behind the Open Door Policy in China, which aimed to ensure equal trading rights for all nations and protect American business interests in the region.
5. Involvement in Latin America during this period often reflected a desire to secure access to resources and markets, leading to interventions justified by both economic and strategic interests.

Review Questions

• How did economic interests shape American foreign policy during the era of imperialism?
  • Economic interests were pivotal in shaping American foreign policy as they drove the nation to seek new markets for its goods and sources for raw materials. The desire to expand trade relationships often led to interventionist policies, such as those seen during the Spanish-American War. These interests reflected a broader ambition for global influence and competition with other imperial powers.
• Evaluate the role of economic interests in justifying territorial expansion by the United States during the late 19th century.
  • Economic interests played a crucial role in justifying territorial expansion as they were often framed as necessary for national growth and security. The pursuit of resources, new markets, and profitable investments was presented as vital for sustaining America's economic strength. This rationale enabled policymakers to advocate for actions such as annexing territories like Hawaii or engaging in conflicts like the Spanish-American War under the guise of protecting American businesses.
• Analyze how economic interests intersected with ideological beliefs such as Manifest Destiny during American expansionism.
  • Economic interests and ideological beliefs like Manifest Destiny were deeply intertwined during American expansionism. While Manifest Destiny promoted the idea that Americans were destined to expand across North America, this ideology also conveniently supported economic motivations. The belief in spreading democracy and civilization often masked underlying desires for resource exploitation and market access. Thus, while manifesting a sense of national mission, U.S. actions were frequently driven by the pursuit of wealth and economic dominance on both a domestic and global scale.

Related terms

Manifest Destiny:

The 19th-century doctrine that the expansion of the U.S. throughout the American continents was both justified and inevitable, often tied to economic motives.

Colonialism: The practice of acquiring control over another country, occupying it with settlers, and exploiting it economically for resources and labor.

Monroe Doctrine:

A U.S. policy established in 1823 that opposed European colonialism in the Americas and aimed to protect U.S. economic interests in the region.