Thirty Glorious Years — definition?
Post-1945 period of strong Western economic growth.
Oil weapon by OPEC — role?
Used production cuts to pressure Western governments.
First oil shock — triggered by?
Yom Kippur war and OPEC-led production cuts in 1973.
Second oil shock — cause?
Iranian Revolution and OPEC doubling prices in 1979.
Stagflation — components?
Inflation, high unemployment, little/no growth.
Fordist model — what?
Mass manufacturing with large firms and assembly lines.
Deindustrialization — process?
Decline of manufacturing industries and shift away from industry.
Sunbelt — location?
US region of expanding electronics and service industries.
Neo-liberalism — policy?
Market control shift from public to private sector.
Deregulation — effect?
Reduces costs but risks monopoly and poor services.
China’s reforms — starting year?
1978 under Deng Xiaoping.
Boluan Fanzheng — purpose?
Restore order after Cultural Revolution.
Four Modernizations — focus?
Agriculture, industry, defense, technology.
SEZs — role?
Lighter regulation zones to attract foreign investment.
Export-led growth — strategy?
Expand exports to drive industrial and GDP growth.
Tiananmen — date?
1989, with protests in April, crackdown in May.
Maastricht Treaty — year?
1992, created EU and launched EMU.
European citizenship — created by?
Maastricht Treaty, alongside national citizenship.
Gorbachev’s reforms — main?
Perestroika (restructuring) and glasnost (openness).
Sinatra Doctrine — meaning?
Moscow allowed Eastern Europe to reform independently.
Fall of Berlin Wall — date?
November 9, 1989.
USSR dissolution — year?
1991, with Baltic independence and republic reforms.
Yeltsin — role?
Elected Russian President in June 1991.
Coup attempt — year?
August 1991, against Gorbachev, failed.
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1. What best describes stagflation in the Western economies of the 1970s?
2. What was the main strategy behind the oil weapon used by OPEC?
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