> "Developing nations" if you will
I wouldn't, I'm not sure which nations are developing or that they're developing into. Aren't we all developing all the time?
> Whatever terms fancy you, the underlying reality remains the same.
That's great, could you just explain the underlying reality without the loaded terms then?
People usually use the term for poorer countries, as opposed to the rich ones. Originally third world meant those not aligned with the USSR or NATO, I believe.