banana republic
noun
plural banana republics
disparaging + often offensive
: a country that is exploited by foreign interests for profit and whose economy typically depends on a single major export (such as bananas)
also
: a country ruled by a despot usually backed by the military
Note: The term banana republic was originally used in reference to Central and South American countries that were exploited by U.S. corporations beginning in the late 19th century for the cultivation and export of bananas.
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Merriam-Webster unabridged
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