Global North and South

Global North is in blue, Global South is in red

In geopolitics, the Global South (sometimes abbreviated to GS) is a general term that roughly designates the least advanced capitalist economies and economically exploited countries, in contrast, the Global North (GN) are the most advanced capitalist economies, whose wealth was largely generated from their colonial pasts and their modern involvement in imperialism.

It's important to note that as this is a geopolitical term, some leeway must be accounted for. For example, China is generally considered by financial institutions to be part of the South, despite them soon achieving the highest GDP in the world. Israel is considered to be part of the Global North, due to its close relationship with and its strategic importance to the Global North ex-colonial powers.

The term Third-World is a disambiguation; it reffered to underdeveloped capitalist countries which were not totally aligned with either bloc during the Cold War. The term "developing countries" is partially misleading, as it ignores the fact that their development is impeded by already developed countries that either maintain them as client states or make them economically dependent on export/imports from the rich parts of the world.