Wikipedia says this about moral diplomacy:
" 'Moral' diplomacy is a form of diplomacy proposed by President Woodrow Wilson in his 1912 United States presidential election. Moral diplomacy is the system in which support is given only to countries whose beliefs are analogous to that of the nation. This promotes the growth of the nation's ideals and damages nations with different ideologies.[1] It was used by Woodrow Wilson to support countries with democratic governments and to economically injure non-democratic countries (seen as possible threats to the U.S.)."
To answer your question, it more of a personal opinion matter. Some may argue moral diplomacy is not moral as it can cause starvation, famine, and more, to poorer countries that do not share the United States ideologies. Especially since these countries may rely on US economic support.
Some may say it is moral because it would be unwise to provide economic support to countries that can pose a ideological threat to The United States interests, domestic and international.
This question is more of a personal opinion question, with no definitive answer.