What describes President Theodore Roosevelt's and President William Taft's policy of using economic power to influence other countries?

President Theodore Roosevelt's and President William Taft's policies of using economic power to influence other countries are often encapsulated in the concept of "dollar diplomacy." Roosevelt emphasized a more aggressive approach, asserting that the U.S. should use its military power to protect its interests, while Taft focused on promoting American investments abroad to foster stability and goodwill. Both presidents aimed to expand U.S. influence in Latin America and Asia, leveraging economic strength to achieve diplomatic and strategic goals. Their policies reflected a belief in the interconnectedness of economic prosperity and national security.