Why call it The "WORLD" series if only two countries are involved?

Canada
@whywiki (6078)
October 22, 2007 4:16pm CST
Last I checked there were 194 countries in the world. Yet only Canada and the USA have teams in the Major League Baseball and ultimately the only two countries in the World Series. Therefore shouldn't it be called something else? The two thirds of North America Championship. Is it because we are afraid to play against the powerhouses in the world?