Banana Republic is the term traced back to the early 20th Century. O Henry is the man who Described the Origin of Banana Republic.
The term originated as a way to describe the experiences of many countries in Central America, whose economies and politics were dominated by U.S.-based banana exporters at the turn of the 20th century.
The term banana republic was coined by the American author O. Henry in 1901, in a short story later adapted for use in his first book, Cabbages and Kings (1904).

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