These countries include Russia, Poland, China and some Turk states. Third world countries are all the other countries that did not pick a side. This includes most of Africa, Asia and Latin America.
However, this definition includes countries that are economically stable, which does not fit the currently accepted definition of a third world country. They also have an unstable and inconsistent economy. These are countries that contain massive amounts of poverty and in some cases have fewer natural resources than other nations throughout the world.
These countries often have to rely on more industrialized countries to aid them and help stabilize their economy. This shifting definition has led to significant confusion as to which countries could correctly be called Third World today. However, none of these nations would be considered Third World under the modern definition—they're all too prosperous.
This combination of confusion and possible insult has made Third World a largely obsolete term. Instead, most modern speakers and writers favor more accurate, inoffensive terms such as "developing countries" and "least developed countries" calculated by the United Nations or "low-income countries" based upon World Bank data. As such, rather than presenting a list of modern Third World countries, we invite you to scroll down to our list of the world's least developed countries.
Personal Finance. Your Practice. Popular Courses. Economy Economics. What Is the Third World? Key Takeaways A Third World country is an outdated and offensive term for a developing nation characterized by a population with low and middle incomes, and other socio-economic indicators.
The International Monetary Fund, World Bank, and World Trade Organization allow for certain benefits and contractual term provisions for countries that meet certain types of economic status classifications. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.
You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.
Related Terms What is the First World? What Is the Fourth World? Fourth World is an outdated term that refers to the most underdeveloped, poverty-stricken, and marginalized regions and populations of the world.
Agency for International Development is an independent federal agency that provides civilian aid to foreign countries. Catch-Up Effect Definition The catch-up effect is the idea that poorer economies will "catch-up" to developed economies because growth tends to slow as economies mature. Advanced Economies Definition Advanced economies are developed countries with high per capita income, diversified industry, and modern financial institutions. Partner Links.
Related Articles. Economics IMF vs. WTO vs. Economics Top 25 Developed and Developing Countries.
0コメント