William Howard Taft addressed the issue of Latin American debt owed to European countries primarily by paying off Latin American countries' debts to European countries so that they were indebted to the U.S. instead. This approach was part of his "Dollar Diplomacy" policy, which aimed to use U.S. economic power to promote American financial interests abroad and stabilize the region economically.
How did William Howard Taft use U.S. economic power to address the issue of Latin American debt owed to European countries?(1 point)ResponsesHe provided economic incentives to encourage Latin American countries to repay their debts more quickly.He provided economic incentives to encourage Latin American countries to repay their debts more quickly.He paid off Latin American countries' debts to European countries so that they were indebted to the U.S. instead.He paid off Latin American countries' debts to European countries so that they were indebted to the U.S. instead.He forced European countries to forgive Latin American debt by threatening to go to war if they refused.He forced European countries to forgive Latin American debt by threatening to go to war if they refused.He helped Latin American countries boost exports to the U.S. so they could more easily afford to repay their debts.
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He paid off Latin American countries' debts to European countries so that they were indebted to the U.S. instead.