As a hobbyist historian of the Cold War of the 20th century, here are some parallels I’ve noticed between the Alliance and Horde races and the IRL countries which took part in the Cold War:
Alliance - The West / NATO
Humans - USA: The flagship race of the Alliance, the other allied countries are aligned to their core values. Has the most influence and wealth in the group, sees itself as the defender of Alliance values
Dwarves - Nordic countries: Laid-back and egalitarian culture, where people take care of eachother without a second thought. Generally aligned to Human values, though critical of some and culturally somewhat different
Night Elves - France: A reluctant ally, has a unique culture which is frequently in conflict with Anglo-Saxon/Human values, somewhat isolationist and nationalist
Gnomes - West Germany: Leaders in Alliance technological innovation, industry and economy. Co-operative and hardworking people, staunch allies of Humans
Draenei - Greece: An Eastern culture with core Western values and alignment. Geographically far away from other Western/Allied countries, but staunch defenders of said values.
Worgen - Britain: Need I say more?
Tushui Panderen - Blue China (Macau, Hong Kong, Taiwan): Alliance/Western aligned Chinese/Pandaren
Horde- The East / Soviet Block
Orc - Soviet Union: The flagship race of the Horde, their allies adopt some Orcish values and political organizations. The Kor’Kron is the KGB.
Undead - Romania: One of the most repressive and mistrusted races of the Horde, well-known for its independent path and strong cult of personality. (Read up on Elena Ceausescu, possibly the closest IRL equivalent to Sylvanas)
Tauren - Hungary: Somewhat independent and peaceful, uneasy friendship with the Alliance. Nomadic past with a shamanistic pagan culture with some similarities to North American Plains Indians.
Troll - Cuba: Need I say more?
Blood Elf - Czechoslovakia: A mixture of bohemian decadence and nationalist repression. You round a corner and either encounter the most boneheaded policeman or the most sex-positive, beautiful woman with a 100 fetishes.
Goblin - East Germany: The main engineers and technological innovators of the Horde, but their industry is polluting and their devices are shoddy.
Huojin Pandaren - Red China (Mainland China)
Have you ever thought about a similar analogy before? What ideas do you have?