banana republic
US /bəˈnænə rɪˈpʌblɪk/
UK /bəˈnænə rɪˈpʌblɪk/
1.
a small state, especially in Central America, that is politically unstable and dependent on foreign capital, typically for the export of one crop (e.g., bananas)
:
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The country was often referred to as a banana republic due to its reliance on a single export crop and corrupt government.
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Critics argued that the new policies would turn the nation into a mere banana republic.