Unformatted text preview: the territorial integrity of each other's possessions in Asia, and Japan reconfirmed its support for the Open Door Policy through the Root-Takahira Agreement (1908). Taft's foreign policy relied on dollar diplomacy — spreading American influence through the economic penetration of overseas markets by U.S. corporations. In an attempt to maintain the independence of China, the administration unsuccessfully tried to establish an international banking syndicate that would buy back the railroads in Manchuria that were in the hands of the Japanese. The combination of a Japanese-Russian alliance and a lack of support from the Wilson administration led U.S. investors to reject the project. On the whole, dollar diplomacy was more effective in Central and South America than it was in Asia....
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- Fall '08
- japan, Open Door Policy, international banking syndicate, Asia. Fearful