Bridging Progress: Understanding the Second World
The term ‘second world’ historically referred to countries that were once governed by the Soviet Union, characterized by centrally planned economies and single-party states. Though the term’s usage has largely dwindled since the early 1990s post-Cold War era, it offers an essential context for understanding geopolitical and economic dynamics.
However, the term ‘second world’ has evolved to describe nations that surpass the development of so-called ’third-world’ countries but fall short of ‘first world’ nations. These are relatively stable and somewhat developed economies with ongoing improvements. Examples include much of Latin and South America, Turkey, Thailand, and South Africa. Investors often label second-world countries transitioning towards first-world status as ’emerging markets’.
Delving Deeper into the Second World
From the historical standpoint, countries categorized under the second world included Bulgaria, the Czech Republic, Hungary, Poland, Romania, Albania, Russia, and China. These nations, while no longer strictly labeled as ‘second world’ today, inherently draw a vivid picture of this classification.
In a broader modern context, there are approximately 100 nations that don’t neatly fit into the ‘first world’ or ’third world’ brackets. A country’s urban and rural regions might display vastly different characteristics, showing a blend of first, second, or even third-world features within its borders. For instance, China’s wealth is prominently displayed in cities like Beijing and Shanghai, while many non-urban areas are still considered developing.
Key Takeaways:
- The ‘second world’ initially defined the Soviet Union and its satellite states.
- The term now encompasses nations lying between first and third-world status in development and economic indicators.
- Countries in Latin and South America, Turkey, Thailand, and South Africa typically fall under this revised understanding.
Criteria Influencing World Classification
Various metrics help determine a country’s classification such as unemployment rates, infant mortality, life expectancy, living standards, and income distribution. It’s worth noting that even well-developed countries like the United States encounter areas that fall behind in economic and social growth. According to MIT Economist Peter Temin, the U.S. has sectors that reflect developing nation characteristics, with a substantial portion of the population experiencing low wages, debt burdens, and minimal growth prospects.
Related Terms: First World, Third World, Centrally Planned Economy, Emerging Markets.
References
- University of Minnesota Library. “Sociology: 9.1 The Nature and Extent of Global Stratification”.
- Gondwana University. “1st, 2nd and 3rd World Countries List”.
- One World, Nations Online. “Countries of the Second World”.
- The National Interest. “Surge of the Second World”.
- Institute for New Economic Thinking. “America Is Regressing into a Developing Nation for Most People”.
