What Is a Banana Republic? Definition and ExamplesBy Robert Longley
November 19, 2019
[/size]A banana republic is a politically unstable country with an economy dependent entirely on revenue from exporting a single product or resource, such as bananas or minerals. It is generally considered a derogatory term describing countries whose economies are controlled by foreign-owned companies or industries.
[/size]Key Takeaways: Banana Republic
-A banana republic is any politically unstable country that generates most or all of its revenue from exporting a single product, such as bananas.[/font]
-The economies—and to an extent the governments—of banana republics are controlled by foreign-owned companies. [/font]
[/size]-Banana republics are characterized by highly stratified socioeconomic structure, with unequal distribution of wealth and resources.
[/size]-The first banana republics were created in the early 1900s by multinational American corporations, such as the United Fruit Company, in depressed Central American countries.
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