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Period: to 1991 BCE
1988-1991: Late Stages of the Cold War & Early Tech Growth
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Late 1980s - Early 1990s
The personal computer market continues to expand, and early forms of the internet are developing, laying the groundwork for future technological advancements. The economic impact is still relatively niche but growing. -
1989
The fall of the Berlin Wall signals the beginning of the end of the Cold War, hinting at future shifts in global trade and economic focus. -
1990-1991
The Persian Gulf War adds economic uncertainty but also spurs some sectors. The formal dissolution of the Soviet Union in December 1991 marks the definitive end of the Cold War, opening up new markets and reducing geopolitical tensions, which has long-term positive economic implications. -
Period: to
1992-2000: The Post-Cold War Era & The Dot-Com Boom
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Early-Mid 1990s
The "peace dividend" from reduced military spending starts to become apparent in some Western economies, particularly the US. Globalization accelerates as former Eastern Bloc countries integrate into the world economy. -
Mid-Late 1990s
The internet and related technologies experience rapid growth. Investment in tech companies surges, creating a boom often referred to as the "dot-com bubble." Stock markets, particularly those with a strong tech sector, see significant gains. Productivity increases due to the adoption of new technologies. -
Late 1990s
The US experiences a period of strong economic expansion, fueled by the tech boom. Unemployment falls, and inflation remains relatively low. However, concerns about the sustainability of the high valuations of internet-based companies begin to emerge. -
Period: to
2002-2007: Recovery and the Housing Bubble
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2002-2007
The global economy recovers, with growth in many areas, including the US. However, a new asset bubble begins to form in the housing market, fueled by low interest rates and lax lending standards. The tech sector also experiences a more sustainable recovery and continued growth. -
2008-2009
The financial crisis intensifies, becoming a global economic crisis. Banks and financial institutions face collapse, credit markets freeze, and stock markets crash worldwide. This leads to a severe recession, the "Great Recession." -
Period: to
2010-Present: Post-Crisis Recovery and New Challenges
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2010s
A slow and uneven recovery from the Great Recession takes place in many developed economies. Government interventions and low interest rates aim to stimulate growth. The tech sector continues to be a significant driver of economic activity, with the rise of social media, mobile computing, and e-commerce. -
Late 2010s
Concerns about income inequality, trade tensions, and geopolitical instability rise. -
2020-Present
The COVID-19 pandemic causes a sharp global economic downturn, followed by a recovery marked by supply chain disruptions, inflation, and ongoing economic adjustments. The tech sector plays a crucial role in facilitating remote work and communication during the pandemic and continues to evolve rapidly.