What is meant by the term “banana republic”? 🔊
The term “banana republic” describes a politically unstable country heavily reliant on a single crop export, which often suffers from foreign intervention and lack of genuine democracy. It characterizes nations where corruption, exploitation, and authoritarian rule prevail, typically with a ruling elite benefiting at the expense of the populace. The term evokes images of economic dependency and political manipulation, often resulting from colonial or imperial histories. Understanding this concept is essential for analyzing global inequalities and the challenges faced by developing nations.
Equestions.com Team – Verified by subject-matter experts