What term is currently used to describe countries previously referred to as less developed?

The term "Global South" is currently used to describe countries that were previously referred to as less developed. This term reflects a shift in discourse regarding economic development and international relations, emphasizing the geopolitical and economic realities of nations in the southern hemisphere. It encompasses a broad range of countries that are characterized by historical colonialism, vibrant cultures, and diverse economies, but which may face challenges like poverty and underdevelopment.

The use of "Global South" also aims to move away from pejorative labels like "Third World," which is considered outdated and laden with negative connotations. Instead, the term fosters more constructive conversations about development, equity, and collaboration between nations. It recognizes the potential for growth and development in these nations while still acknowledging their current challenges.

In contrast, terms like "Emerging markets" refer specifically to countries that are in the process of rapid growth and industrialization, which does not encompass the full range of experiences found in the Global South. "Global North" refers to more developed countries, and thus does not apply to those previously labeled as less developed either.