The North-South Divide is the socio-economic and political division that exists between the wealthy developed countries, known collectively as "the North", and the poorer developing countries (least developed countries), or "the South." Although most nations comprising the "North" are in fact located in the Northern Hemisphere, the divide is not primarily defined by geography. The North is home to four out of five permanent members of the United Nations Security Council and all members of the G8. "The North" mostly covers the West and the First World, with much of the Second World. The expression "North-South divide" is still in common use, but the terms "North" and "South" are already somewhat outdated. As nations become economically developed, they may become part of the "North", regardless of geographical location, while any other nations which do not qualify for "developed" status are in effect deemed to be part of the "South."