The decade of American unipolarity — democratic optimism, ethnic conflicts, and the seeds of 21st-century crises.
Yugoslavia fragments into ethnic wars that kill over 140,000 people, exposing the limits of post-Cold War optimism.
The Maastricht Treaty creates the European Union, deepening integration with plans for a common currency and foreign policy.
Israel and the Palestine Liberation Organization sign a historic agreement, raising hopes for a two-state solution.
Hutu extremists kill approximately 800,000 Tutsi and moderate Hutu in 100 days while the international community fails to intervene.
Nelson Mandela is elected South Africa's first Black president in the country's first fully democratic elections, ending apartheid.
The WTO replaces GATT, providing the institutional framework for the acceleration of global free trade.
A currency crisis sweeps Southeast Asia, demonstrating the fragility of globalized finance and devastating regional economies.
Northern Ireland's peace agreement largely ends three decades of sectarian conflict known as the Troubles.
Eleven EU nations adopt the euro as their common currency, the most ambitious monetary integration project in history.
China's entry into the World Trade Organization accelerates its integration into the global economy, transforming world manufacturing.