Portal:1990s

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The 1990s Portal

From top left, clockwise: The Hubble Space Telescope orbits the Earth after it was launched in 1990; American F-16s and F-15s fly over burning oil fields in Operation Desert Storm, also known as the 1991 Gulf War; the signing of the Oslo Accords on 13 September 1993; the World Wide Web gains a public face at the start of the decade and gains massive popularity worldwide; Boris Yeltsin greets crowds after the failed August Coup, which leads to the dissolution of the Soviet Union on 26 December 1991; Dolly the sheep is the first mammal to be cloned from an adult somatic cell; the funeral procession of Diana, Princess of Wales, who died in 1997 in a car crash in Paris, and was mourned by millions; hundreds of thousands of Tutsi people are killed in the Rwandan genocide of 1994, which would become a factor in initiating the Second Congo War of 1998.

The 1990s (pronounced "nineteen-nineties"; shortened to "the '90s") was a decade of the Gregorian calendar that began on 1 January 1990, and ended on 31 December 1999.

Culturally, the 1990s are characterized by the rise of multiculturalism and alternative media, which continues into the present day. Movements such as hip hop, the rave scene and grunge spread around the world to young people during that decade, aided by then-new technology such as cable television and the World Wide Web.

In the absence of world communism, which collapsed in the first two years of the decade, the 1990s was politically defined by a movement towards the right-wing, including increase in support for far-right parties in Europe[1] as well as the advent of the Hindu nationalist Bharatiya Janata Party[2] and cuts in social spending in the United States,[3] Canada,[4] New Zealand,[5] and the UK.[6] The United States also saw a massive revival in the use of the death penalty in the 1990s, which reversed in the early 21st century.[7] During the 1990s the character of the European Union and Euro were formed and codified in treaties.

A combination of factors, including the continued mass mobilization of capital markets through neo-liberalism, the thawing of the decades-long Cold War, the beginning of the widespread proliferation of new media such as the Internet from the middle of the decade onwards, increasing skepticism towards government, and the dissolution of the Soviet Union led to a realignment and reconsolidation of economic and political power across the world and within countries. The dot-com bubble of 1997–2000 brought wealth to some entrepreneurs before its crash between 2000 and 2001.

The 1990s saw extreme advances in technology, with the World Wide Web, the first gene therapy trial, and the first designer babies[8] all emerging in 1990 and being improved and built upon throughout the decade.

New ethnic conflicts emerged in Africa, the Balkans, and the Caucasus, the former two which led to the Rwandan and Bosnian genocides, respectively. Signs of any resolution of tensions between Israel and the Arab world remained elusive despite the progress of the Oslo Accords, though The Troubles in Northern Ireland came to a standstill in 1998 with the Good Friday Agreement after 30 years of violence.[9]

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Annual growth of GDP per capita in affected countries from 1995 to 2000

The 1997 Asian financial crisis was a period of financial crisis that gripped much of East and Southeast Asia during the late 1990s. The crisis began in Thailand in July 1997 before spreading to several other countries with a ripple effect, raising fears of a worldwide economic meltdown due to financial contagion. However, the recovery in 1998–1999 was rapid, and worries of a meltdown quickly subsided.

Originating in Thailand, where it was known as the Tom Yum Kung crisis (Thai: วิกฤตต้มยำกุ้ง) on 2 July, it followed the financial collapse of the Thai baht after the Thai government was forced to float the baht due to lack of foreign currency to support its currency peg to the U.S. dollar. Capital flight ensued almost immediately, beginning an international chain reaction. At the time, Thailand had acquired a burden of foreign debt. As the crisis spread, other Southeast Asian countries and later Japan and South Korea saw slumping currencies, devalued stock markets and other asset prices, and a precipitous rise in private debt. Foreign debt-to-GDP ratios rose from 100% to 167% in the four large Association of Southeast Asian Nations (ASEAN) economies in 1993–96, then shot up beyond 180% during the worst of the crisis. In South Korea, the ratios rose from 13% to 21% and then as high as 40%, while the other northern newly industrialized countries fared much better. Only in Thailand and South Korea did debt service-to-exports ratios rise. (Full article...)
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Dolly the sheep, the first mammal to be cloned from an adult

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Official portrait, 1997

Madeleine Jana Korbel Albright (born Marie Jana Körbelová, later Korbelová; May 15, 1937 – March 23, 2022) was an American diplomat and political scientist who served as the 64th United States secretary of state from 1997 to 2001. A member of the Democratic Party, she was the first woman to hold that post.

Born in Prague, Czechoslovakia, Albright immigrated to the United States after the 1948 communist coup d'état when she was eleven years old. Her father, diplomat Josef Korbel, settled the family in Denver, Colorado, and she became a U.S. citizen in 1957. Albright graduated from Wellesley College in 1959 and earned a PhD from Columbia University in 1975, writing her thesis on the Prague Spring. She worked as an aide to Senator Edmund Muskie from 1976 to 1978, before serving as a staff member on the National Security Council under Zbigniew Brzezinski. She served in that position until 1981 when President Jimmy Carter left office. (Full article...)

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Sources

  1. ^ Merkl, Peter; Leonard, Weinberg (2 August 2004). Right-wing Extremism in the Twenty-first Century. Routledge. ISBN 978-1-135-76421-0.
  2. ^ "India – The Bharatiya Janata Party and the Rise of Hindu Nationalism".
  3. ^ ROSEN, RUTH (27 December 1994). "Which of Us Isn't Taking 'Welfare'? : Poor children rank low in government largess; why is the comfortable class so mean?". Los Angeles Times.
  4. ^ Séguin, Gilles. "Provincial Welfare Reforms in the 1990s – Canadian Social Research Links".
  5. ^ Maloney, Tim (1 May 2002). "Welfare Reform and Unemployment in New Zealand". Economica. 69 (274): 273–293. doi:10.1111/1468-0335.00283.
  6. ^ "Policy Exchange – Shaping the Policy Agenda" (PDF). Archived from the original (PDF) on 21 January 2014.
  7. ^ https://www.usnews.com/news/articles/2013/12/19/report-us-executions-dipped-in-2013
  8. ^ Handyside, AH; Kontogianni, EH; Hardy, K; Winston, RM (1990). "Pregnancies from biopsied human preimplantation embryos sexed by Y-specific DNA amplification". Nature. 344 (6268): 768–70. Bibcode:1990Natur.344..768H. doi:10.1038/344768a0. PMID 2330030.
  9. ^ Stiglitz, Joseph E. (2004). The Roaring Nineties. W. W. Norton. ISBN 978-0-393-32618-5.
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