Etymology
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Third World (n.)

1963, from French tiers monde, formulated 1952 by French economic historian Alfred Sauvy (1898-1990) on model of the third estate (French tiers état) of Revolutionary France; his first world (The West) and second world (the Soviet bloc) never caught on.

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Definitions of Third World

Third World (n.)
underdeveloped and developing countries of Asia and Africa and Latin America collectively;
From wordnet.princeton.edu