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English definition of “basket case”

basket case

noun [C] (COUNTRY/COMPANY)   
a country or company that is very unsuccessful financially: 20 years ago the country was an economic basket case.Starting, succeeding and failing in businessFailuresAccidents and disastersHigher and lower points of achievement
(Definition of basket case noun (COUNTRY/COMPANY) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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