Final answer:
King Cotton diplomacy was ineffective for the Confederacy, as it failed to gain European support and led to economic decline due to alternative cotton sources and a Union blockade.
Step-by-step explanation:
The effectiveness of "King Cotton diplomacy" can be assessed as having led to significant issues for the Confederacy during the American Civil War. The Confederate States of America believed that by withholding cotton exports, they could influence Britain and France to provide diplomatic recognition and support. However, this strategy did not secure European support for the Confederacy, as hoped.
This is because both European nations found alternative cotton suppliers in India and Egypt, and Britain had no interest in risking conflict with the United States.
Furthermore, the naval blockade imposed by the Union severely restricted Southern trade with Europe, leading to economic strain in the South as incomes from cotton sales dwindled. This economic strain was compounded by inflation, due to the Confederacy printing paper money to make up for the lack of commerce. This policy did not yield the intended outcomes and ultimately contributed to the South's economic hardships.