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What douse Third World debt mean?

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Anonymous

12y ago
Updated: 8/20/2019

Third World Dept means people from other countries that don't have any food or money and have to make sleeping arrangements on the floor.

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Wiki User

12y ago

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What does third world debt mean?

Third world debt means the debt of the US Parliament. No, no it refers to the money which the richer nations of the world have loaned to the nations of the Third World. The First World, if you like, is the old established European nations which became the colonisers of the world. The new World is the Americas, north & south. The Third World are the countries of Asia & Africa which, so far, have not been pre-eminent in economic power. For example, China & India are rapidly no longer going to be in the Third World because of massive economic growth. Japan has a powerful economy, as has Singapore. Zimbabwe on the other hand is now amongst the poorest of nations. it is a very debatable point whether those of us that live in wealthy nations should loan these countries money at all. Personally I believe we should simply give them all the aid we can. It is pointless asking someone who has little wealth to repay a loan they cannot afford to take in the first place. Which is exactly what 'Freddie Mac & Fanny May' have done with the US economy which is why we are now all in the doo doo. But that is a different Q altogether.