Why Has the Label "Global South" Gained Favour Over Other

Why has the label "Global South" gained favour over other, somewhat misleading, terms?

A) It better incorporates historical and contemporary patters of wealth and power into a loosely geographically defined concept
B) It departs from popular beliefs that poverty and social conditions are still identified with the Third World
C) The label "south" is a better fit to the geographical conditions of poverty
D) The geographical term "south" implies democracy
E) The term "south" is meant as a pejorative