USA HISTORY

Detailed explanation-1: -The term “Second World” refers to the former communist-socialist, industrial states, the territory and sphere of influence of the Union of Soviet Socialists Republic (Soviet Union). Communist Yugoslavia was the only eastern European country which was not aligned with the Soviet Union.

Detailed explanation-2: -The First World consisted of the U.S., Western Europe and their allies. The Second World was the so-called Communist Bloc: the Soviet Union, China, Cuba and friends. The remaining nations, which aligned with neither group, were assigned to the Third World.

Detailed explanation-3: -Examples of second-world countries by this definition include almost all of Latin and South America, Turkey, Thailand, South Africa, and many others. Investors sometimes refer to second world countries that appear to be headed toward first world status as “emerging markets” instead.

Detailed explanation-4: -The concept of “Second World” was a construct of the Cold War and the term is still largely used to describe former communist countries that are between poverty and prosperity, many of which are now capitalist states, such as Eastern Europe.