[M]any nations of the third world are described as ‘underdeveloped’. These less wealthy nations are generally those that suffered under colonialism and neo-colonialism. The ‘developed’ nations are those that exploited their resources and wealth. Therefore, rather than referring to these countries as ‘underdeveloped’, a more appropriate and meaningful designation might be ‘over exploited’. Again, transpose this term next time you read about the ‘underdeveloped nations’ and note the different meaning that results.
–Robert B. Moore, “Racist Stereotyping in the English Language”