How Has The Monroe Doctrine Affected Development In Latin America?

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How has the Monroe Doctrine affected development in Latin America?
Much has been said about the Monroe Doctrine and its impact on the Latin American region. The Doctrine has been castigated, and its credibility questioned on more than one occasion. However, researchers have come to defend its sanity and importance to the Latin American countries. Alvarez (1917) notes that the misunderstanding of the Monroe Doctrine hinges on people attempting to “hang upon it all the policies of the United States.” The above is simply wrong and leads to a further misunderstanding of the Doctrine and its effects.
However, in spite of the above, it is crucial to note that the Monroe Doctrine opened the door for the U.S.’s influence in the region. Coll (1997) writes that the U.S. has political, military, and economic interests in Latin America. Economically, the U.S. has been interested in the economic development of Latin America, mainly because of trade and capital flows.
However, since the document was made public, Latin America has benefitted from the relationship that the U.S. initiated through the document. For example, exports to the United States in 2018 were worth $426,311 million. Also, their imports were worth $314,055 million. From these statistics, it is clear that the United States is allowing the region to export more while importing less of the United States products. Trade and capital flows appear to favor Latin America.
Latin America did have wasted years, which came as a result of political instability in the region. However, the Monroe Doctrine made it possible for the U.S. to fight for peace in the region, and intervene whenever its interests and that of its partners are in jeopardy. As Coll (1997) writes, “the chief political interest in Latin America is stability.” Currently, peace in the region has helped ensure that there is consistent growth, as reported by a McKinsey research article in 2017, which indicates that the region posted an “average annual GDP growth of about 3 percent.”
Discuss the ways in which the (primarily) Spanish colonization of Latin America impacted its development. What were the key features, aspects, and outcomes of this colonization?
Spanish colonization of Latin America is said to have been retrogressive instead of progressive. Mahoney and Hau (2005) write that “Spanish colonialism caused a reversal of development trajectories in the region.” After independence, a majority of the Latin American countries fell behind instead of growing and matching the world standards of growth. Compared to Africa and other parts of the world that gained independence in the 20th century, Latin America has indeed lagged behind. A good example is India, which has grown to surpass many countries in the world, including a majority if not all of Latin America. However, as the colonizer, Spain continues to come under fire for its role in the region’s current state. The colonial master is said to have failed to leave structures that would sustain development and ensure the region is competing at the global level.
Mahoney and Hau (2005) write that Spain left two categories of states in Latin America t...