"Banana republic" refers to governments that are captured by (foreign) corporate interests. In NYC, that's going to be the city government and army-sized police

"Banana republic" refers to governments that are captured by (foreign) corporate interests. In NYC, that's going to be the city government and army-sized police force (sometimes described as "occupying") operating mostly for the benefit of the financial, real estate, and (to a lesser extent) entertainment industries, all of which, I'd wager, involve foreign nationals at a higher rate than exist in the general population. When the NYPD is harassing native New Yorkers so that investors from Israel, Europe, and China feel more comfortable (on both a personal and economic level), that feels quite "banana republic"-y to me.