I think first and third world are still fairly commonly used, although their definitions have been perverted. Second world is rarely used, but when it is used, it refers to countries that aren't absolutely stricken with poverty, but aren't quite as developed as first world countries either. South Africa, Turkey and Mexico are a few examples. But it's an idiotic terminology in my opinion.
RE: We need a better buzzword than “developing” or “third world”
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We need a better buzzword than “developing” or “third world”