Quick Definition

The term 'Third World' historically refers to countries that were neither aligned with NATO (First World) nor the Communist Bloc (Second World) during the Cold War, often characterized by lower economic development and higher poverty rates.

Examples

• 1Countries like India and Brazil were historically considered Third World due to their non-alignment and developmental challenges.
• 2Many Third World countries have significant natural resources but face challenges in terms of infrastructure and human capital.
• 3The term is often used in discussions about foreign aid, where developed countries provide assistance to Third World nations to help improve their economic conditions.
• 4Investors might consider the growth potential in Third World markets, which can offer high returns despite higher risks.

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