I think it would be the dissolution of the Soviet Union. Nothing beats that because all of a sudden the US became a complete single unipolar powerhouse. All the nation states including India that had closed economies had to shift towards open economies as they realized that system was not working out.
You had McDonalds all the way in Russia. That is how you knew capitalism truly won over communism.
I cannot imagine any other event of the 1990's that shook the world as much as the dissolution of the soviet union.
Today that event still impacts the world as Russia in its present form is too small to fight for itself and thus fell into the sphere of influence of China.
Is there any other major event of the 1990's that had as great an impact?
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World wide web
Tech giants like Google and Amazon were founded in the 90s
In some level I think the Japanese economic bubble burst is worth mentioning. Back in the 80s Japan was poised to overcome the US GDP wise and it all ended abruptly by 1995
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Fun fact - It took 15 years for Japan to fall from 2nd rank GDP (Nominal) to 3rd place. It looks like it will take another 15 years for it to fall to 4th place by 2025. After that it should take another 15 years for it to fall out of the top 10 economies of the world.
World wide web is cool yes. We are at web 4.0 I think.
Microsoft is currently the only 3 trillion plus net worth company around.
Lots of good points raised by you.
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According to projections Germany already surpassed Japan as number 3 last year. Their GDP fall will accelerate along as their population declines
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Oh neat. You are right.
So now India is left to over take Japan next year and further the humiliation.
Neat.
How long until Japan's superiority complex collapses under the strain of reality?
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