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The early 1980s recession was a severe economic recession that affected much of the world between approximately the start of 1980 and 1982. [2] [1] [3] Long-term effects of the early 1980s recession contributed to the Latin American debt crisis, long-lasting slowdowns in the Caribbean and Sub-Saharan African countries, [3] the US savings and loan crisis, and a general adoption of neoliberal ...
South Africa witnessed increasing instability as both civil disobedience and militant violence against the white-minority government intensified. [47] In western countries, such as the United States, there was a growing movement calling for the suspension of economic relations with South Africa, often referred to as the Disinvestment Movement.
The policy was widely criticised and led to crippling sanctions being placed against the country in the 1980s. [45] South Africa held its first non-restricted racial elections in 1994, leaving the newly all-African elected African National Congress (ANC) government the daunting task of trying to restore order to an economy harmed by sanctions ...
Unlike other nations, moreover, for New Zealand the effects of the October 1987 crash spilled over into its real economy, contributing to a prolonged recession. [72] The effects of the worldwide economic boom of the mid-1980s had been amplified in New Zealand by the relaxation of foreign exchange controls and a wave of banking deregulation.
During the Soviet-American tensions of the early 1980s, the two German states tried to mediate between the blocs in order to defuse the situation. The GDR received loans from the Federal Republic and trade with the West became vital for its survival, which led to the GDR becoming increasingly economically dependent, which West Germany used to ...
The letter, the economists said, is reminiscent of the 1980s when homebuilders sent a piece of lumber to the Fed, asking for help in restoring housing demand via lower interest rates. Wells Fargo ...
The idea was that high demand for goods drives up prices and encourages firms to hire more; and high employment raises demand. However, in the 1970s and 1980s, when stagflation occurred, it became clear that the relationship between inflation and employment levels was not necessarily stable: that is, the Phillips relationship could shift.
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad. Market Report: Germany avoids recession, First Group swings to loss, and National Grid ...