Industrialized Nations After the Cold War Chapter 19 Section 1

The New Face of Europe Communist Eastern Europe and Democratic Western Europe crumbled–trade, travel, business and communication become easier European nations were effected by: Immigration form developing worlds anti-foreign discrimination unemployment East and West Germany united and brought nationalism East Germany economy weak Racist groups emerged Blamed Immigrants for terrible times Attacked foreign workers

The New Faces of Europe Germany still had strong military leader European economic community became European Union (E.U.) Early 2000’s: More than 12 countries joined the E.U. and applicants are still coming from Eastern Europe E.U. worried that members of weaker economies would bring down their economy as well Large population of Muslims in Eastern Europe Other European religions in the E.U. were worried that quick changes in the it would make it unstable

The New Face of Europe Many European nations wanted to join NATO NATO policy makers believed that the primary goal was to protect human rights Terrorist attacks forced NATO to reexamine their role in global war on terrorism

Global Power Shifts Russia was struggling to change to a market economy 1998: Russia almost had a financial collapse because it defaulted Failed to make payments on foreign debt Vladmir Putin became president in 2000 Russia in consulting status with NATO However, Putin increased power of government at the expense of people’s freedoms

Global Power Shifts U.S. was sole super power and had political and military influence 1991: Pres. George H.W. Bush drove Iraq from Kuwait and started peace talks between Israel and Palestine Pres. Clinton made peace with Haiti and Yugoslavia Economic boom in 1990 Surplus of money left over from expenditures Between 1900-2000, economy traded off going up and down

Changes In Asia Pacific Rim: vast region of nations that border the Pacific Ocean Pacific Ocean was a major highway for world trade Japan Dominated Asian Pacific Rim Became economic power house 1990: Japan suffered from economic turndown Taiwan, Hong Cong, Singapore, and South Korea modernized quickly and earned the name “Asian Tigers” or “Four Tigers” Asian Tigers concentrated on higher priced goods

Japan Trade Deficit at Record: $75B in First Half Japan’s trade deficit surged to a record $74.9 billion in first half of the year Exports failed to keep pace with surging imports Import bill was partly due to a jump in demand as business and consumers stepped up purchases ahead of April 1 Sales tax went from 5% to 8% Imports for the 6 months jumped 10% to $420 billion Exports rose 3.2% to $346 billion Deficit in June alone more than tripled from the year at $26.7 billion Overall, Japan’s economy is less and les export driven

Works Cited http://wilsonworldhistory1213.wikispaces.com/file/view/ch+34+Sec1+wksht.pdf