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» Economics » Imperialism » Topics begins with D » Dollar imperialism

Page modified: Wednesday, July 13, 2011 04:24:45

Dollar imperialism an imperialistic form of the outside or economic policy is called, which is based on the wealth of a state or its stable currency. The term is usually used pejorativ opposite the USA, sometimes also opposite other industrial nations. The designation was in-patriated in particular for the following three connections:

Dollar imperialism as form of the US foreign policy

Dollar imperialism is a special form of the imperialism, with which industrial nations economic advantages wanted to secure themselves, e.g. favorable supplies of raw materials or agricultural goods and to receive at the same time acceptance markets for manufactured products. By dollar imperialism one understands in this connection with investments connected a US foreign policy "big stick", how was practiced her to 1901 - 1909 of Theodore Roosevelt. (The term is used in exactly the connection for example in German-language school books for American history.)

In consequence of the USA in 19. Jh. represented Monroe doctrine, to that-according to European national states into (entire) the American interests to interfere would not have, expanded the USA around the turn of the century their influence toward Mexico, central and South America. An example in this connection is the US influencing control for the building of the Panama channel 1904-1914: In order to be able to build these strategically and economically important water way, Panama became 1903 on operation of the USA of Colombia abgespalten.

Dollar imperialism as anti-American combat term in the Weimar Republic

Dollar imperialism was used as anti-American combat term. Here occasionally the view is represented, the term was coined/shaped in Germany by the national socialists. In addition, the extreme left one the used term, so for instance Ernst who spoke in a speech "to the offensive against the class enemy" of dollar imperialism; it pointed out in the connection that to the time (1931) 60 per cent of the foreign investments into Germany from the USA it would come.

Dollar imperialism after the Second World War

The term dollar imperialism is used sometimes in order to describe the advantages of the USA from the role US Dollar as world key currency. These exist mainly in the omission of exchange costs and rate of exchange risks. As example for this raw material markets serve, as for instance the oil trade. As long as oil at the world market is acted with US Dollar, the USA enjoy the advantage being able to introduce oil against their own currency.

However after the introduction of the euro to the OPEC about a change one thought. Long-term consequences of the euro-introduction are not to be foreseen yet. There are however signs that the existence of a currency alternative will question the unquestioned leading post of the USD.

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