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Let's Know Things

Trade War

Let's Know Things

Colin Wright

News Commentary, News

4.8593 Ratings

🗓️ 3 April 2018

⏱️ 45 minutes

🧾️ Download transcript

Summary

This week we talk about bribery, the Anglo-Irish Trade War, and Bananagate.


We also discuss China, tariffs, and the United Fruit Company.



This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit letsknowthings.substack.com/subscribe

Transcript

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0:00.0

The United Fruit Company was a U.S.-based corporation, founded in 1890 after the merger of two large banana

0:23.8

trading companies based in Central and South America. The melding of these companies led to

0:29.6

control of huge swaths of land and shipping routes throughout Central America and the Caribbean

0:35.3

coasts of Colombia, Ecuador, and the West Indies.

0:38.3

The United Fruit Company's only real competition in this industry, the growing and shipping

0:43.6

of various types of fruit from these regions, but primarily bananas, to markets around the world,

0:48.8

was another corporation called the Standard Fruit Company, which would later become the

0:53.8

Dole Food Company, but much of its

0:56.0

network at the time was completely uncontested. During this period, this part of the world was

1:02.7

filled with what came to be called banana republics, countries that were politically unstable,

1:09.1

and often kept that way intentionally so that plantation

1:13.1

owning fruit exporting corporations could essentially own local infrastructure, politics,

1:19.4

and in some cases, the people as well in practice, if not in technical legal reality.

1:26.5

Some scholars have called this set up neocolonialism, and that seems like a pretty

1:32.7

apt term to me.

1:34.8

The United Fruit Company merged with another company called AMK, otherwise known as the American

1:41.8

Seal Cap Company, a company that made milk caps, among other things,

1:47.5

and unified. They formed a new company called United Brands Company. That happened in 1970.

1:54.7

AMK was run by a man named Eli Black, who became its CEO in 1954.

2:02.7

Under his leadership, it was converted from a company that made milk caps into an acquisition vehicle, meaning it was more or less

2:09.0

an umbrella company used to buy out other companies to create massive, sprawling, powerful

2:15.6

brands that could throw their weight around.

...

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