How the Fall of the Soviet Union Has Affected The World

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In 1989, the world saw the fall of the United Soviet Socialist Republic (U.S.S.R.), which was also known as the Soviet Union. The Soviet Union was a block of 15 Communist Eastern European states that was ruled by one government with various puppet governments located throughout the states. Its collapse brought about new issues that the world had never had to deal with before. The fall of such a large block of Soviet states created many problems and some of the solutions that were used to solve these problems, as well as many of the tensions that were created during this time, still affect the world today. Some of the ramifications resulting from the Soviet Union’s collapse are still being felt; however, many problems have been solved…show more content…
This evidences how, in the wake of the fall of the Soviet Union, the creation of new nations has caused tensions that affect the world today. Another repercussion of the Soviet Union’s collapse was the failure of the economies of almost every new post-Soviet country. Most of the economies of the new Republics were left in shambles after the collapse. In Russia, people were not ready for the new economic freedom that resulted from the fall of Communism. Their unpreparedness led to inflation. “Inflation caused prices to go up three hundred percent in the first month, and 2,591 percent by the end of 1992.”( Russian Economy in the Aftermath of the Collapse of the Soviet Union) Just three years after the Soviet Union’s fall, Russia’s inflation rate had skyrocketed to 2591 percent, evidencing that Russians were not prepared for such a rapid evolution, going from a communist economy into a capitalist economy. All post-Soviet countries had the same economic fate as Russia, plunging into worse economic conditions than the United States suffered during its Great Depression. For example, in 1992, the Ukraine had almost a fifteen percent drop in its gross domestic production and Latvia suffered a 33 percent drop. (GDP growth) Many of these countries’ economies are still suffering as a result of the rapid evolution
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