The fact that Spanish [G 04 / expansionism] was failing did not go unnoticed by emerging empires. In the early 19th century, Britain with its imperial powers at their pinnacle - it possessed extraordinary military power and a booming economy - began taking a keen interest in [G 07 / Latin America]. They, however, were not the only ones.
The United States, an ever-expanding empire to the north, also had its eye on the region. In 1819 the US annexed Florida from the Spanish, and small trading outposts mushroomed from north to south of the Pacific coast, opening up South American markets to the influential businessmen in New York and other northern cities. American president, James Monroe, realizing the threat Britain posed (the US stood little chance in standing up to Britain militarily), warned the latter in 1823 to forget any ideas of colonizing in the Western Hemisphere. In return for leaving all further development in the [G 12 / 'New World'] to the Americans, Monroe promised to cease all interference in Europe.
