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The Good Neighbor Policy was part of the US foreign policy initiative in the 1930s to improve relations with Latin America and prevent conflicts. It involved ceasing military interventionism and providing economic and political support. The Export-Import Bank of the United States was established to provide financing to Latin America. American intervention in the region has led to anti-Americanism and nationalism. The Good Neighbor Policy aimed to prevent isolationism and promote better relations.
As part of the foreign policy initiative established by President Franklin Delano Roosevelt’s administration, the Good Neighbor Policy was a central part of US-Latin American relations in the 1930s and beyond. In an effort to foster better relations with Latin America and prevent further conflicts with regimes in the region, Roosevelt moved to reassert US influence in the Western Hemisphere. In particular, the Good Neighbor Policy was an advance of the Monroe Doctrine.
The Good Neighbor Policy stated that the United States would cease most of its military interventionism, which had been the standard course of action since the Spanish-American War earlier in the century. Instead, the United States has taken a series of peaceful steps to maintain the status quo and uphold American interests. The federal government would support strong leadership in Latin American countries, help fund and train local military organizations, and assist in economic and political oversight.
As an important part of the Good Neighbor Policy, Roosevelt established the Export-Import Bank of the United States in 1934 by executive order. This agency provides financing to nations when they purchase goods and services from the United States. In essence, this bank has opened a line of credit to Latin America which has promoted the modernization and development of the region. By securing credit for these countries, it also created a market for American companies, promoting job growth during the Great Depression.
Throughout the history of the region, the countries of Latin America have been subject to colonization and control by other nations, especially European powers. With the victory of the United States over Spain in the conflict of 1898, the last major influence from outside the hemisphere was removed. This opened up the United States as a primary force throughout Central and South America. Many American companies, backed by the military, have exercised their will over the culture and nations of Latin America.
Regarded as an imperialist power by most of the citizens of the area, American intervention in the affairs of nations has provoked the resentment of the populations. A culture of anti-Americanism against the northern behemoth has given rise to a rise in nationalism. This has resulted in many small conflicts and challenges for the United States, which have created backlash from the American public and a new drive for isolationism. To prevent this protectionist fear from spreading, Roosevelt needed to establish a new policy, which resulted in the creation of the Good Neighbor Policy.
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