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The US dollar continues to underpin the world economy and is the key currency for medium of international exchange, unit of account (e.g. pricing of oil), and unit of storage (e.g. treasury bills and bonds) and, despite arguments to the contrary, is not in a state of hegemonic decline (cf. Fields & Vernengo, 2011, 2012).
U.S. imperialism or American imperialism is the expansion of political, economic, cultural, media, and military influence beyond the boundaries of the United States of America.
Dollar diplomacy of the United States, particularly during the presidency of William Howard Taft (1909–1913) was a form of American foreign policy to minimize the use or threat of military force and instead further its aims in Latin America and East Asia through the use of its economic power by guaranteeing loans made to foreign countries. [1]
The history of the United States dollar began with moves by the Founding Fathers of the United States to establish a national currency based on the Spanish silver dollar, which had been in use in the North American colonies of the Kingdom of Great Britain for over 100 years prior to the United States Declaration of Independence.
A Diplomatic History of the United States (2nd ed. 1942) online; old standard textbook; Bemis, Samuel Flagg and Grace Gardner Griffin. Guide to the Diplomatic History of the United States 1775–1921 (1935) bibliographies; out of date and replaced by Beisner (2003)
The 19th century saw the United States transition from an isolationist, post-colonial regional power to a Trans-Atlantic and Trans-Pacific power. From 1790 to 1797, the U.S. Revenue Marine served as the United States' only armed maritime service, tasked with enforcing export duties, and was the predecessor to the United States Coast Guard.
During the 1990s, the United States mostly scaled back its foreign policy budget as well as its cold war defense budget which amounted to 6.5% of GDP while focusing on domestic economic prosperity under Clinton, who succeeded in achieving a budget surplus for 1999 and 2000.
The officially stated goals of the foreign policy of the United States of America, including all the bureaus and offices in the United States Department of State, [1] as mentioned in the Foreign Policy Agenda of the Department of State, are "to build and sustain a more democratic, secure, and prosperous world for the benefit of the American people and the international community". [2]