Life in an Age of Globalization (1990 onwards) Flashcards
emergence of globalization
1980s-1990s
globalization is the emergence of a freer, more technologically connected global economy, accompanied by a worldwide exchange of cultural, political, and religious ideas.
new waves of legal and illegal immigration to Europe
1990s-2010s
in the 1990s most immigrants came from the former East bloc, later from Africa and most recently from the Middle East (many of them refugees).
economic possibilities were a major pull factor. asylum status for immigrants was made possible.
Maastricht treaty
1991
the basis for the formation of the EU, which set financial and cultural standards for potential member states and defined criteria for membership in the monetary union.
civil war in Yugoslavia
1991-2001
people involved were Serbians with president Milosevic, Slovenians, Croatians, Albanians, Bosnians.
Decline of Russian economy
1992-1997
Russian leaders wanted to liven economy and opted for liberization at breakneck speed which backfired.
privatization resulted in powerful private monopolies and inflation ran rampant.
Oligarchs required immense wealth while majority of people saw their savings become worthless and living standards declining.
creation of EU
1993
the economic, cultural, and political alliance of 28 European nations.
protest against WTO in Seattle
1999
WTO, World Trade Organization, is a powerful supranational financial institution that sets trade and tariff agreements for over 150 member countries and so helps manage a large percentage of the world’s import-export policies. Like the IMF and the World Bank, the WTO promotes neoliberal policies around the world.
the protests was part of many of its kind and exemplified the antiglobalization movement.
Resurgence of Russian economy under Putin
2000-2008
maintained relatively liberal economic policies but reestablished semi-authoritarian political rule.
during his first two terms his domestic and foreign policies proved very popular.
9/11 terrorist attack on the US; war in Afghanistan begins
2001
this attacked also heightened the Muslim question in Europe. war with Afghanistan largely started due to 9/11.
Euro replaces national currencies in Eurozone
2002
Iraq War
2003-2011
largely caused by the 9/11 attack.
train bombings in Madrid by Islamic extremists
2004
Young Muslims riot in France; subway bombing in London by Islamic extremists
2005
worldwide financial crisis begins
2008
ratification of treaty of Lisbon; young Muslims riot in France
2009