The third way or centrism is a way of thinking about government and politics that tries to bring together ideas from both the left and the right. So, imagine you have two big groups of people. The ones on the left, like a big brother who wants to take care of everyone and make sure they have what they need. The ones on the right, like a strict parent who thinks everyone should work hard and be responsible for themselves.
The third way or centrism says that we should take good ideas from both of these groups and put them together to create something that works for everyone. It's like trying to mix different flavors of ice cream to make a new and better flavor.
For example, let's say some people on the left think that everyone should have access to healthcare and education, while people on the right think that everyone should be responsible for themselves and not rely on the government. The third way might suggest a compromise where the government provides some assistance for education and healthcare, but also encourages people to take responsibility for their own well-being through programs that teach them life skills and help them find work.
In summary, the third way or centrism is about taking good ideas from both sides of the political spectrum to create balanced policies that work for everyone. It's like mixing different flavors of ice cream to make a delicious new flavor.