Poorest Country In Central America Known As Banana Republic
The term was originally coined by the well known author o. Henry coined the term to describe honduras and neighbouring countries under economic exploitation by us.
poorest country in central america known as banana republic
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In 1901 the american author o.
Poorest country in central america known as banana republic. Central americas poorestrichest country is. Henry coined the term to describe honduras and neighboring countries under economic exploitation by us. The us owned united fruit company began to acquire land in latin america for banana plantations eventually snatching up around 42 percent of farmland in guatemala.
In political science the term banana republic describes a politically unstable country with an economy dependent upon the exportation of a limited resource product such as bananas or minerals. Henry in 1904 after fleeing to honduras and seeing such a situation the economist 2013. The income distribution is highly unequal with more than half of the population below the national poverty line and just over 400000 32 unemployed.
Guatemala is the largest economy in central america with a gdp ppp per capita of us5200. Advertisement nicaragua officially the republic of nicaragua is the largest country in the central american isthmus bordering honduras to the north and costa rica to the south. As it turns out banana republic refers to a politically unstable nation economically dependent on the exportation of a limited resource product bananas for example.
Corporations such as the united fruit company today known as chiquita brands international. However guatemala faces many social problems and is one of the poorest countries in latin america. Corporations such as the united fruit company.
In 1901 the american author o. While other central american countries were called banana republics this country was a coffee republic. The company was given the exclusive right to transport mail in 1901 and eventually clinched a stranglehold on all of guatemalas transportation and communication systems.
Banana republic is defined as a derogatory term meaning a small nation especially in central america dependent on one crop or the influx of foreign capital oxford dictionary. Most of the worlds poorest countries have been plagued by civil wars and other forms of political instability. The switzerland of central america the regions oldest democratic republic is.
The top three poorest countries in the world burundi the central african republic and the democratic republic of the congo are all located in the same region of africa. According to forbes as of december 2013 nicaragua is the poorest country in central america and the second poorest in the entire western hemisphere after haiti.
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