well, technically, since the disolve of the USSR, the term doesn't mean anything because its technical definition is 1st world: aligned/allied with the US. 2nd world: aligned/allied with the USSR 3rd world: aligned/allied with no one. 1st and 2nd world would get loans, subsidies gifts and access to all manner of resources. 3rd wouldn't, so tended to be super shitty. that said, in my humble opinion the West is crumbling because it's no longer majority Christian. we have been hollowed out by Jew culture of narcissism instead of loving Christ.