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 |