1987

1987 was an ordinary year of 365 days in the Gregorian calendar, the timekeeping system most widely used in the world. It began on a Thursday. The year fell within the final decade of the Cold War, a period marked by significant political and economic change in the Soviet Union and Eastern Europe.

In terms of general history, 1987 is noted for arms control agreements, global movements related to environmental protection and development, and political situations in the Middle East, Africa, and Asia. The year was also marked by turmoil in world financial markets.

Global politics

The leadership of the Soviet Union under Mikhail Gorbachev continued its policies of economic restructuring (perestroika) and openness in media and public debate (glasnost). These changes affected Moscow's relations with the West, notably in negotiations over nuclear arms control with the United States.

During the year, negotiations took place on reducing medium-range missiles deployed in Europe. This was part of a process that had been ongoing for years and concluded when bilateral arms control agreements were reached.

Economics

In October 1987, world stock markets experienced a sharp decline in a single day, known as 'Black Monday'. The event led central banks in many countries to provide liquidity to stabilize the financial system, and some stock market regulations were subsequently altered.

Environment and science

1987 is marked by the Montreal Protocol, an agreement concerning chemicals that damage the ozone layer. The protocol obligated countries to reduce the production and use of chemicals such as CFCs. The same year saw publication of a global report that widely disseminated the concept of sustainable development.

Regional developments

In the Middle East, the Iran-Iraq War continued, affecting oil trade and regional security. In Palestine, the end of the year saw the beginning of a popular uprising in territories held by Israel. In Africa, several countries experienced changes in leadership and ongoing conflicts.