Outline of the Cold War
End of the Cold War – While many observers state the 1989 Malta Summit was the end of the Cold War, it was December 1991 before the Presidents of the United States and the Soviet Union formally recognised the conflict's end, with the Soviet Union also being dissolved at that time. Some key events leading up to the end include:
Cold War
After the dissolution of the Soviet Union, Russia drastically cut military spending, and restructuring the economy left millions unemployed. The capitalist reforms culminated in a recession in the early 1990s more severe than the Great Depression as experienced by the United States and Germany. In the 25 years following the end of the Cold War, only five or six of the post-communist states are on a path to joining the rich and capitalist world while most are falling behind, some to such an extent that it will take several decades to catch up to where they were before the collapse of communism.