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The phrase banana republic was first coined in 1904 by American writer O. Henry. In political science, the term banana republic describes a politically and economically unstable country with an economy dependent upon the export of natural resources.
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Aug 23, 2022 · The term banana republic describes a struggling country whose economy depends on exporting natural resources — particularly agriculture, hence the banana — to larger, wealthier nations. These countries are politically unstable, making them susceptible to worker exploitation, government corruption, and foreign control.
