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Global Financial Crisis

Dates

Early 1980s

Causes

Deindustrialization • Failure of central bank policies • Overextension of colonial empires

Effects

Decolonization movements • Collapse of major European powers • Establishment of new international financial institutions

Location

Europe, Colonial territories

Collapsed empires

Imperial Britain • French Kingdom

Historical event type

Economic downturn

Impact on globalization

Post-war consolidation of European economies • Setting stage for 21st-century globalization

Global Financial Crisis