From military intervention to economic leverage: The changing face of U.S. influence

By Bhabani Shankar Nayak* 

Over the past several decades, U.S.-led military interventions and foreign policies, often supported by European allies, have significantly affected peace, governance, and livelihoods in numerous countries — from Vietnam and Afghanistan to Iraq, Libya, and Syria. The ongoing conflict in Ukraine has emerged as another theatre of geopolitical confrontation, where NATO’s support for Ukraine has brought it into direct tension with Russia. These conflicts have not only undermined regional stability but have also contributed to wider global economic disruptions.

Critics argue that large-scale interventions and regime-change efforts have often reflected deeper systemic crises within the global capitalist order, which relies on continuous access to markets and resources. Such policies have, in turn, weakened transnational labour solidarity and hindered movements seeking more equitable economic and social arrangements.

U.S. foreign interventions have frequently been justified on grounds of promoting democracy, stability, and counterterrorism. However, scholars and analysts across the world have pointed out that these initiatives also align with the political and economic interests of advanced capitalist states, particularly the United States. Governments or movements perceived as resistant to such arrangements have often faced external pressure, sanctions, or direct military action.

During the Vietnam War, for example, the U.S. dropped an estimated 7.5 to 7.7 million tons of bombs on Vietnam, Laos, and Cambodia — more than twice the tonnage used by all sides during World War II. In the twenty-first century, the wars in Afghanistan, Iraq, Syria, and Libya have shown similar patterns of extensive military operations conducted under the banners of counterterrorism and democratization, with devastating consequences for civilian populations and infrastructure.

In recent years, the United States has relied increasingly on non-military instruments of global influence, particularly through international financial institutions such as the World Bank, the International Monetary Fund (IMF), and the World Trade Organization (WTO). Critics contend that these bodies have often advanced economic restructuring programs — such as structural adjustment policies — that reinforce global market dominance by powerful economies under the guise of promoting liberalization and reform. When such measures fail to secure desired outcomes, external funding and political pressure have at times been used to influence or destabilize governments.

Despite the scale of its interventions, U.S. military power has not always achieved its stated objectives. The Vietnam War remains a notable example of strategic failure, where sustained local resistance led to U.S. withdrawal and significant geopolitical realignments. More recently, the prolonged conflicts in Iraq and Afghanistan have demonstrated similar challenges, with instability persisting long after the end of major combat operations.

Under the administration of President Donald Trump, the U.S. adopted a protectionist economic stance, imposing tariffs on a wide range of imports. While intended to bolster domestic industries, these measures also disrupted global trade and reflected broader efforts to maintain U.S. economic dominance amid shifting power balances. Historically, the U.S. has combined protectionist domestic policies with advocacy for open global markets — a dual approach that continues to shape international trade relations.

Attention has recently turned toward Latin America, particularly Venezuela. The U.S. government has imposed sanctions and expressed support for opposition forces, citing concerns about governance and democracy. Critics of U.S. policy argue that these actions are driven by economic interests, including access to Venezuela’s substantial oil reserves, and risk exacerbating instability in the region.

Beyond Latin America, U.S. trade and agricultural policies have also influenced economic structures across the Global South. Through multinational agribusinesses and trade agreements, Washington has sought to expand market access for American products while limiting state intervention in developing economies. At the same time, military-industrial interests have benefited from sustained global tensions and regional conflicts.

Taken together, these patterns reflect a broader evolution of U.S. foreign policy — from direct military intervention during the Cold War to more complex strategies involving financial leverage, trade controls, and technological dominance. While perspectives differ sharply on whether these policies promote stability or perpetuate inequality, their cumulative effects have been profound, shaping political and economic trajectories across much of the world.

The continuing debate over U.S. global influence underscores the need for multilateral approaches that prioritize peace, sovereignty, and equitable development. Sustainable international cooperation will depend on whether global institutions can move beyond narrow strategic interests to address the shared challenges of conflict, inequality, and environmental decline.

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*Academic based in UK