1997

1997 was an ordinary year (not a leap year) in the Gregorian calendar, the world's standard dating system. The year began on a Wednesday. It was the 1997th year of the Common Era (CE) and marked a time near the end of the twentieth century.

1997 witnessed major political, economic, and technological events with far-reaching consequences: the handover of Hong Kong, the Asian financial crisis, and significant developments in internet technology and biological science.

Global politics

In July 1997, the United Kingdom transferred Hong Kong to the People's Republic of China, fulfilling a prior agreement. Hong Kong became a Special Administrative Region, operating under the principle of 'one country, two systems'. In the same year, Britain's Labour Party, led by Tony Blair, took office following a general election.

Economics

The latter part of 1997 saw the onset of the Asian financial crisis. It began in Thailand, when the baht lost its link to the dollar, and then spread to Indonesia, South Korea, and other countries. The International Monetary Fund (IMF) provided loans to several affected nations, subject to economic conditions.

Science and technology

In 1997, the creation of an animal named Dolly, produced through cloning (genetic replication of a single organism), was announced, sparking considerable scientific debate. Similarly, Deep Blue, a computer built by IBM, defeated world chess champion Garry Kasparov in a match. The internet and e-commerce expanded rapidly during this period.

Other notable events

In December 1997, the Kyoto Protocol was adopted, committing countries to reduce greenhouse gases. That year also saw the deaths of several prominent international figures, extensively covered by the media.