The U.S benefitted Latin America through the implementation of the Monroe Doctrine, which helped prevented further European colonization. Independence and sovereignty were in the U.S’s intentions for involvement in Latin America, while many European governments saw benefits in overturning independence and thereby acquiring resources and global power. This paper will use examples of European colonialism in, Africa, Mexico, and the Dominican Republic, to support my claim. Both the U.S and Europe
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Englishman, Joseph Chamberlain, once gave a speech to the Birmingham Relief Association in 1894. In this speech Chamberlain stated, "That in order that we may have more employment to give we must create more demand." This proves that the idea of a foreign market as a means of economic power was widespread among Europeans at the time. Both an Englishman and a Frenchmen used the same argument in pushing for colonization.” 
This quote gives insight to the economic markets in Europe and the many different countries that were advocating for another foreign market.
The next incentive for European Colonialism was a need for Raw materials to fuel manufacturing. Many of the nations the Europeans colonized did not have the means for manufacturing goods, but they were able to provide the raw materials. Europe was over developed and no longer had a constant stream of manufacturing materials. However, other nations who had no means of manufacturing, due to underdevelopment, had bountiful resources that had been left untouched. The industrial revolutions in Europe in the 18th and 19th centuries helped to spur European imperialism. For example, the production of cotton cloth needed tons of imported raw materials.