End of the Cold War and Globalization

Flashcards covering key concepts related to the end of the Cold War and the rise of globalization.

In 1985, the new Soviet leader __ had an entirely new attitude on diplomacy and control.

Mikhail Gorbachev

Gorbachev initiated two major reforms: (economic and political reform) and (openness).

perestroika; glasnost

Under __, free market policies, such as the private ownership of businesses were allowed in Hungary and Poland.

perestroika

The Revolutions of 1989 led to the fall of the __, a wall constructed in 1961 to prevent East Germans from fleeing to the West.

Berlin Wall

In 1990, Germany was reunited with approval from the US, UK, France, and __.

USSR

The dissolution of the Soviet Union officially signaled the end of the __ era.

Cold War

The European Economic Community initially focused on _ and _.

steel; coal

The European Union allows citizens of all member states to trade, work, and move between European countries with a unified __ and common currency.

European citizenship

The World Trade Organization (WTO) was formed in __.

1994

Countries transitioning to a __ economy focus on information technology rather than industrial production.

knowledge

As trade barriers crumbled in the 1990s, companies like __ became multinational corporations.

Nestlé