The term "Second World" originally referred to countries aligned with the former Soviet Union during the Cold War. These nations were characterized by their socialist or communist governments and included parts of Eastern Europe and Asia. The Second World was distinct from the capitalist "First World" and the developing "Third World." Today, the concept of the Second World is less commonly used, but it can still describe countries with emerging economies that are transitioning from a centrally planned economy to a more market-oriented system. Examples include nations in Central and Eastern Europe that have undergone significant political and economic changes since the fall of communism.