Open Door Policy
The US policy that allowed for trade in China open to all countries equally
Real World Example
The Open Door Policy, introduced in 1899, was a U.S. proposal aimed at ensuring equal trading rights for all nations in China during a time when European powers were carving China into spheres of influence. This policy was important because it sought to prevent any single country from monopolizing Chinese trade, preserving China's territorial and administrative integrity. It responded to the New Imperialism era's competitive colonization and economic exploitation by promoting free trade over territorial conquest. Today, the Open Door Policy's principles resonate with global trade agreements that emphasize fair competition and equal access to markets, impacting how countries engage in international commerce. For example, when you buy a smartphone made with parts from various countries, the concept of equal trade opportunities helps ensure you have access to diverse products at competitive prices, benefiting consumers worldwide.
