Business
End of the Third World
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| With the rise of China, India and Brazil, it is time to drop the use of the term “Third World” to categorize developing countries, according to the head of the World Bank.
Speaking at Washington’s Wilson Center, Robert Zoellick said: “For decades, students of security and international politics have debated the emergence of a multi polar system. Its time we recognize the new economic parallel. If 1989 saw the end of the Second World with Communisms demise, then 2009 saw the end of what was known as the Third World: We are now in a new, fast-evolving multi polar world economy — in which some developing countries are emerging as economic powers; others are moving towards becoming additional poles of growth; and some are struggling to attain their potential within this new system — where North and South, East and West, are now points on a compass, not economic destinies.” |