Second World

Second World currently refers to the emerging markets, as against the First World, which are the developed countries. The Third World refers to the poor and developing countries. These terms are not much in use now, especially after the dissolution of the Soviet Union in the early 1990s. During the Cold War era between the United States and the Soviet Union, the countries led by Soviet Union were referred to as the Second World, while the Countries led by the United States were referred to as the First World. The Third World referred to the countries during the Cold War which were neutral or the non-aligned countries.