What role has the Cold War played in revolutions around the world in the twentieth century? What effect has this had on the Global South?

There is an argument in the historiography of the Cold War which states that the nations of the developing world used the two superpowers of the Cold War for their own ends. On some level, this is a valid point. After WWII, the traditional colonial powers, Britain and France, started cutting their costs by granting colonies their independence. In other circumstances, the old colonial powers lost wars of independence to these former colonies. These new countries appealed to both the United States and the Soviet Union for aid.
The Global South refers to low-income, economically disadvantaged nations. These nations appealed to either the United States or the Soviet Union for aid, arms, or both. Cuba appealed to the Soviet Union, which was more than happy to receive a toehold in the Western Hemisphere. The leadership of South Vietnam appealed to the United States in order to receive money and arms as well. Ho Chi Minh, the North Vietnamese leader, appealed to the Soviet Union in order to build the traditional army of North Vietnam. Ho Chi Minh was not so much a true communist as he was a Vietnamese nationalist; however, he was more than willing to accept Soviet money to build his forces in order to unite the nation.
The United States backed many leaders who had a checkered leadership history. South Vietnamese leaders were notorious for being corrupt and aloof from the needs of the people. The rightists who were in charge of Cuba and Guatemala were also notoriously corrupt. They had one thing in common: their dislike of leftist factions. Though they did not bring democratic leadership to their respective nations and many were known to torture opposition members, the United States gave the leaders they preferred lots of cash and arms in order to prevent the nation from becoming aligned with the Communists.
Both rightists and leftists used the Cold War in order to make money and silence the opposition. In this manner, the Cold War helped to shape the post-colonial world. This thinking still exists even after the war, as the United States, Russia, and China seek new investment opportunities in the Global South at the expense of the other major powers.