Banana republic
WordNet
noun
(1) A small country (especially in Central America) that is politically unstable and whose economy is dominated by foreign companies and depends on one export (such as bananas)
WiktionaryText
Etymology
Coined by American author O. Henry in his 1904 book of short stories, "Cabbages and Kings", set in the fictional "Anchuria", which was based on his 1896-97 stay in Honduras.
Noun
- A small country, especially one in Central America, that is dependent on a single export commodity (traditionally bananas) and that has a corrupt, dictatorial government.