In part, the decline was down to the collapse of trade with the Soviet block: new trade with China filled only part of the hole.
He does so, partly to record that the decline and eventual collapse of the Medici bank had little impact on the banking system as a whole.
The decline of marriage is also contributing to the collapse in the birth rate.
Unlike Azerbaijan, where signs of the oil-fueled prosperity can be seen even in remote villages, the Georgian countryside appears to have been in economic decline ever since the collapse of the Soviet Union.
The global slowdown has, naturally, led to a collapse in global trade, which is consistent with the decline in currency reserves.
Over the past three years, the large decline in M1 velocity joined with the collapse of the Money Multiplier to produce an implosion in the velocity of the monetary base.
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The subprime mortgage mess and ensuing financial markets collapse led to economic growth rate plummeting and high unemployment levels that led to a steep decline in disposable income levels.
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Could we have used our knowledge of tulip mania to prevent the 2000 Nasdaq collapse or the 2008 global financial crisis sparked by the decline of the US housing market?
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Russian airline safety has been steadily improving, however, despite a decline immediately after the collapse of the Soviet Union in 1991, according to aviation expert David Learmount of Flight International magazine.
Perhaps that tranformation will manifest itself, among other ways, by precipitating the collapse of the All-Volunteer Force, as many of those who are currently serving decline to do so, and fewer and fewer new, high-quality recruits enlist.
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