concept of “Third World” outdated

Old concept of “Third World” outdated, Zoellick says New Multipolar global economy requires new approaches Available in: Italiano, Português, Español, 日本語, Français, Deutsch, العربية, русский, 中文 Press Release No:2010/347/EXC Contacts: In Washington: David Theis +1-202-458-8626 dtheis@worldbank.org  Washington, April 14, 2010 — Old concepts of the “Third World” no longer apply in the new multipolar global economy and new approaches are needed to take account for the interests of developing countries, said World Bank Group President Robert B. Zoellick. Related Content Multimedia Speech: The End of the Third World? In a speech ahead of the Spring Meetings of the World Bank,Zoellick said the global economic crisis of 2009 and the rise of developing countries in the global economy was the death-knell of the old concept of the Third World as a separate entity just as 1989 was for the Second World of Communism. This has profound implications for multilateralism, global cooperative action, power relationships, development, and international institutions such as the World Bank Group, and necessitated approaching problems with a new perspective./.../