Third World
The term 'Tercer Mundo' is Spanish for 'Third World'. It is used in socioeconomic contexts often referring to underdeveloped or developing nations, typically in Africa, Asia, and Latin America. The term originated during the Cold War, dividing the nations into three categories: First World referred to the US, Western Europe, and their allies; Second World referred to the Soviet Union, China, and their allies; 'Tercer Mundo' or Third World referred to neutral and non-aligned countries, many of which were impoverished. However, in the modern context, it is more commonly used to describe nations that face economic challenges and higher rates of poverty.
The Third World is known for facing economic development challenges.
This phrase is saying that 'the Third World', a term often used to refer to developing nations, is widely recognized for its difficulties with economic development.
Many Third World countries depend on foreign aid.
In this sentence, the speaker is explaining that many countries categorized in 'the Third World' rely on help from other nations, often in the form of financial assistance or resources.
The industrialization of the Third World is often a goal of international policies.
Here, the statement is that a common aim of policies initiated by international bodies is to encourage or support industrial processes in what's commonly referred to as 'the Third World'.