2020s Decade (2020 Crisis)

The 2020s (pronounced "twenty-twenties"; shortened to the '20s) was a decade in the Gregorian calendar that began on 1 January 2020 and will end on 31 December 2029.

The decade began with a global economic crisis in 2020 and 2021, which resulted in the end of the neoliberal era in the Western world, and the end of a great number of right-wing populist government from the 2010s decade, which was the first popular reaction against neoliberalism and deregulated globalization. This allowed the rise of a large number of progressive center-left governments in the Western World with Keynesian policies. It hears a new expansion of the welfare state in the developed world, with new forms of social protection for more flexible and knowledge-based jobs, an increase in the tax burden for the rich, carbon taxation, regulation of globalization and focus on returning to national value chains, rising real wages and the beginning of an era of prosperity and growth in income equality that would last until the 2040s. The West with the New Golden Age, especially in Latin America with its own Latin American Golden Age, was marked by economic progressive and keynesian politics, prosperity, political estability, moderation in identitary politics, and transition to green economy. Despite prosperity and stability in the West, the Old World has experienced instability. While there have been democratic advances in some countries, especially in the northern Middle East and Russia, there has also been a rise in authoritarianism in a number of Western European, Southeast Asia, military coups and populist governments in Sub Saharan African countries, and the emergence of far-right dictatorships in Greece, Congo and in Zimbabwe.

The 2020s were marked by the continuation of the Second Cold War tensions that had come since the 2010s. China consolidated itself as a superpower at the time, despite the slower growth, with an aggressively expand of its influence in the developing world in reponse of internal problems, as the United States began to reverse the declineof the past decade, focusing on economic cooperation and ending direct interventions, while cooperating with new pro-Western indpendent powers such as India and Brazil, which expanded their zones. of influence, sometimes cohabiting with the American zone, like Brazil. There were several conflicts, many involving power blocs, such as the Great Middle East War between 2024 and 2026 after the Iraqi Revolution, the Great Balkan War in the same years, the Cyprus War, and the Indo-Pakistani War of 2027.

The climate change agenda became dominant in the decade, with climate events becoming more extreme during the decade. This has led to strong changes and investments toward the green economy. Gas emissions have halved in the Developed World, and China has reduced its emissions by 20 percent, while in Latin America there has been a further reduction because of the fight against deforestation in the Amazon and abundant renewable energy sources. Nevertheless, in the least developed countries, emissions increased due to industrialization. The decade of 2020 ended with a lower than expected temperature rise. During the decade of 2020s there were major breakthroughs in the internet of things, biotechnology, naotencology, holography, hydrogen fuel, urban design and architecture that favored green spaces and based on the forms of nature, and saw the reduction of social problems caused by the rise of the internet, as the population over the decade has become more digitally literate. The internet remained global, but more and more countries began to develop local providers that coexisted on the global internet.

The decade of 2020s ended with the 2027-2028 Oil Crisis, which slowed global growth after an entire decade of slow oil prices but little affected the prosperity of the time. That was the last oil crisis, and it accelerated the transition to renewable energy sources. The 2027-2028 Oil Crisis was caused by the biggest revolution of the decade, the Arab Revolution, which took place in former Saudi Arabia and led to the fall of the last so-called ancien régime in the world.