First World in the context of "Economic stability"

The Cold War was a period of global geopolitical rivalry between the United States (US) and the Soviet Union (USSR) and their respective allies, the capitalist Western Bloc and communist Eastern Bloc, which began in the aftermath of the Second World War and ended with the dissolution of the Soviet Union in 1991. The term cold war is used because there was no direct fighting between the two superpowers, though each supported opposing sides in regional conflicts known as proxy wars. In addition to the struggle for ideological and economic influence and an arms race in both conventional and nuclear weapons, the Cold War was expressed through technological rivalries such as the Space Race, espionage, propaganda campaigns, embargoes, and sports diplomacy.

After the end of the Second World War in 1945, during which the US and USSR had been allies, the USSR installed satellite governments in its occupied territories in Eastern Europe and North Korea by 1949, resulting in the political division of Europe (and Germany) by an "Iron Curtain". The USSR tested its first nuclear weapon in 1949, four years after their use by the US on Hiroshima and Nagasaki, and allied with the People's Republic of China, founded in 1949. The US declared the Truman Doctrine of "containment" of communism in 1947, launched the Marshall Plan in 1948 to assist Western Europe's economic recovery, and founded the NATO military alliance in 1949 (matched by the Soviet-led Warsaw Pact in 1955). The Berlin Blockade of 1948 to 1949 was an early confrontation, as was the Korean War of 1950 to 1953, which ended in a stalemate.

Industrialisation (UK) or industrialization (US) is "the period of social and economic change that transforms a human group from an agrarian and feudal society into an industrial society. This involves an extensive reorganisation of an economy for the purpose of manufacturing." Industrialisation is associated with an increase in polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialisation increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies.

The reorganisation of the economy has many unintended consequences both economically and socially. As industrial workers' incomes rise, markets for consumer goods and services of all kinds tend to expand and provide a further stimulus to industrial investment and economic growth. Moreover, family structures tend to shift as extended families tend to no longer live together in one household, location or place.

The term Third World arose during the Cold War to define countries that remained non-aligned with either NATO or the Warsaw Pact. The United States, Canada, Japan, South Korea, the Southern Cone, Western European countries and other allies represented the "First World", while the Soviet Union, China, Cuba, North Korea, Vietnam, and their allies represented the "Second World". This terminology provided a way of broadly categorizing the nations of the Earth into three groups based on political divisions. Due to the complex history of evolving meanings and contexts, there is no clear or agreed-upon definition of the Third World. Strictly speaking, "Third World" was a political, rather than economic, grouping.

Since most Third World countries were economically poor and non-industrialized, it became a stereotype to refer to developing countries as "third-world." In political discourse, the term Third World was often associated with being underdeveloped. China was labeled "Third World" for several decades in the 20th century before its robust development of the 21st century. Some countries in the Eastern Bloc, such as Cuba, were often regarded as Third World. The Third World was normally seen to include many countries with colonial pasts in Africa, Latin America, Oceania, and Asia. It was also sometimes taken as synonymous with countries in the Non-Aligned Movement. In the dependency theory of thinkers like Raúl Prebisch, Walter Rodney, Theotônio dos Santos, and others, the Third World has also been connected to the world-systemic economic division as "periphery" countries dominated by the countries comprising the economic "core".

The Eastern Bloc, also known as the Communist Bloc (Combloc), the Socialist Bloc, the Workers Bloc, and the Soviet Bloc, was an unofficial coalition of Communist states of Central and Eastern Europe, Asia, Africa, and Latin America that were aligned with the Soviet Union and existed during the Cold War (1947–1991). These states followed the ideology of Marxism–Leninism and various types of socialism, in opposition to the capitalist Western Bloc. The Eastern Bloc was often called the "Second World", whereas the term "First World" referred to the Western Bloc and "Third World" referred to the non-aligned countries that were mainly in Africa, Asia, and Latin America but notably also included former pre-1948 Soviet ally Yugoslavia, which was located in Europe.

In Western Europe, the term Eastern Bloc generally referred to the USSR and Central and Eastern European countries in the Comecon (East Germany, Poland, Czechoslovakia, Hungary, Romania, Bulgaria, and Albania). In Asia, the Eastern Bloc comprised Mongolia, Vietnam, Laos, Kampuchea, North Korea, South Yemen and China. In the Americas, the countries aligned with the Soviet Union included Cuba from 1961 and for limited periods Nicaragua and Grenada.

A high-income economy is defined by the World Bank as a country with a gross national income per capita of US$13,935 or more in 2024, calculated using the Atlas method. While the term "high-income" is often used interchangeably with "First World" and "developed country", the technical definitions of these terms differ. The term "first world" commonly refers to countries that aligned themselves with the U.S. and NATO during the Cold War. Several institutions, such as the Central Intelligence Agency (CIA) or International Monetary Fund (IMF), take factors other than high per capita income into account when classifying countries as "developed" or "advanced economies". According to the United Nations, for example, some high-income countries may also be developing countries. The GCC countries, for example, are classified as developing high-income countries. Thus, a high-income country may be classified as either developed or developing. Although Vatican City is a sovereign state, it is not classified by the World Bank under this definition.

The Western Bloc, also known as the Capitalist Bloc, the Freedom Bloc, the Free Bloc, and the American Bloc, was an unofficial coalition of countries that were officially allied with the United States during the Cold War (1947–1991). While the NATO member states, in Western Europe and Northern America, were pivotal to the bloc, it included many other countries, in the broader Asia-Pacific region, the Middle East, Latin America, and Africa with histories of anti-Soviet, anti-communist and, in some cases anti-socialist, ideologies and policies.

As such, the bloc was opposed to the political systems and foreign policies of communist countries, which were centered on the Soviet Union, other members of the Warsaw Pact, and usually the People's Republic of China. The name "Western Bloc" emerged in response to and as the antithesis of its communist counterpart, the Eastern Bloc. Throughout the Cold War, the governments and the Western media were more inclined to refer to themselves as the "Free World" or the "First World", whereas the Eastern bloc was often referred to as the "Communist World" or less commonly the "Second World".

The terms First World, Second World, and Third World were originally used to divide the world's nations into three categories. The complete overthrow of the pre–World War II status quo left two superpowers (the United States and the Soviet Union) vying for ultimate global supremacy, a struggle known as the Cold War. They created two camps, known as blocs. These blocs formed the basis of the concepts of the First and Second Worlds. The Third World consisted of those countries that were not closely aligned with either bloc.