Soviet Economy Struggles (mar 27, 1979 – oct 3, 1990)
Description:
USSR was fighting battles on many fronts:Fighting a war in Afghanistan, which they simply could not win.
Were giving aid to left-wing parties in other countries.
Vast expediture over many years led to global over-stretch.
The Soviet economy was stagnating and needed technological and financial input from the West. They were outputting 63% less GNP than the USA. The Soviets simply could not offer competitive goods' prices in comparision with the USA.
Added to timeline:
Date:
mar 27, 1979
oct 3, 1990
~ 11 years