That would bring back the cold war, not start World War III. Why would name calling start a World War? Do you think China, India, Mexico care?
Remember the WW1? That one was almost entirely confined to the European continent. Latin America was not a theatre of war, and the US participated only for the last 2 years. The WW3 will be similar, with countries/regions such as China, India, Africa, Pacific Islands, Indonesia, Latin America, and Southeast Asia staying clear.