Events, Verisoph

c. 1998 The Jubilee 2000 campaign for debt cancellation 0 cit. A global coalition of churches, charities, and activists demands cancellation of unpayable poor-country debt by the year 2000, drawing on the biblical idea of a jubilee. Mass petitions and a human chain around a G8 summit pushed leaders to widen relief and helped shape the enhanced HIPC scheme. Campaigners argued that much of the debt was odious and had already been repaid many times over in interest. economy / religion ●●

c. 1998 The Big Eight shrink to the Big Four 0 cit. A wave of mergers cut the world's leading audit firms from eight to five, and the criminal collapse of Arthur Andersen after Enron in 2002 left four. Deloitte, PwC, EY, and KPMG came to audit nearly every large public company on earth, a concentration that regulators warn leaves the system dangerously dependent on a handful of firms. economy ●●●

1998 Abacha's billions surface in foreign banks 0 cit. After Nigerian military ruler Sani Abacha died in 1998, investigators traced an estimated 2 to 5 billion dollars in stolen state funds into accounts in Switzerland, Britain, Luxembourg, Liechtenstein and Jersey. The exact total remains an estimate, but the trail through named banks is documented. Switzerland and other countries have since returned more than a billion dollars to Nigeria in stages. economy / politics ●●

12 August 1998 Swiss banks settle the dormant-accounts claims 0 cit. After years of pressure over Holocaust-era accounts left dormant and heirs turned away, Switzerland's two largest banks agreed to pay 1.25 billion dollars to settle claims brought by survivors and their families. The scandal exposed how the country's banking secrecy had also buried the assets of the murdered. The settlement was one of the first large financial reckonings with Switzerland's wartime conduct. economy / society ●●●

c. 1998 Deflation and stagnation define the lost decades 0 cit. From the late 1990s Japan slid into mild but persistent deflation, with falling prices, weak demand, and near-zero growth. What was first called the lost decade stretched into two and then three. Government stimulus and public debt piled up while output barely moved. economy / society ●●●●

26 September 1999 Founding of the G20 0 cit. G7 finance ministers announce a new Group of Twenty of major advanced and emerging economies after the Asian financial crisis, with an inaugural meeting in Berlin that December. It became a leaders' summit in 2008. diplomacy / economy / politics ●●●

1 January 1999 Launch of the euro 0 cit. Eleven European Union countries fix their currencies to the new euro, managed by the European Central Bank in Frankfurt. The single currency creates the world's second most important monetary area. economy / politics ●●●

28 June 1999 Founding of Alibaba 0 cit. Former English teacher Jack Ma and 17 co-founders launch Alibaba from his Hangzhou apartment. Its Taobao and Tmall marketplaces make it the dominant force in Chinese e-commerce, and its 2014 IPO is then the largest ever. economy / technology ●●●●

30 November 1999 Formation of ExxonMobil 0 cit. Exxon and Mobil, the two largest fragments of Standard Oil, complete an 81 billion dollar merger. It reunites much of Rockefeller's empire and creates what is then the world's largest company. economy ●●●

12 November 1999 Gramm-Leach-Bliley Act repeals Glass-Steagall 0 cit. The Gramm-Leach-Bliley Act removed the wall between commercial and investment banking set up in 1933. It allowed large financial conglomerates that combined banking, securities and insurance. economy / politics ●●●●

26 September 1999 Group of Twenty founded 0 cit. Finance ministers and central bankers of major advanced and emerging economies formed the G20 in the wake of financial crises. It broadened economic coordination beyond the wealthy G7 nations. economy / politics ●●●

1 January 1999 The euro is introduced 0 cit. Eleven European countries adopted the euro as an accounting currency, fixing their exchange rates and pooling monetary policy under the European Central Bank. It was the largest voluntary currency union in modern history. economy / politics ●●●●

1999 Krupp merges with Thyssen to form ThyssenKrupp 0 cit. In 1999 the Krupp group merged with rival Thyssen to create the industrial company ThyssenKrupp. The deal ended Krupp's separate existence after nearly two centuries. economy ●●●

c. 1999 The sovereignty and policy-space critique contested 0 cit. Critics argue that detailed loan conditions strip borrowing governments of room to choose their own economic path, from tariffs to public ownership. Defenders say countries remain free to decline the loans and their terms. economy / politics ●●●

1999 The enhanced HIPC initiative 0 cit. Under pressure from the Jubilee campaign, the G7 and the two institutions widened and sped up HIPC relief and tied it to poverty-reduction spending. Critics still faulted the slow pace and the conditions attached. economy / politics ●●●

1999 Poverty Reduction Strategy Papers replace adjustment 0 cit. The Bank and Fund replaced structural adjustment loans with Poverty Reduction Strategy Papers meant to be written by borrowing countries themselves. Critics argued the underlying policy conditions changed less than the language did. economy / politics ●●●

c. 1999 The post-Asian-crisis rethink 0 cit. After the Asian crisis the IMF faced sustained criticism, including from within, and began to soften its stance on rapid capital-account liberalization. The episode marked the start of a slow reassessment of the Washington Consensus. economy / politics ●●●

1999 NYX Cosmetics is named for the Greek goddess of night 0 cit. NYX Cosmetics, founded in Los Angeles in 1999, is named after Nyx, the Greek goddess of the night. culture / economy / religion ●●

1999 LUNA bars are named for the Roman goddess of the moon 0 cit. Clif Bar launched its LUNA nutrition bar for women in 1999, named after Luna, the Roman goddess who personified the moon. culture / economy / religion ●

March 1999 X.com founded by Elon Musk 0 cit. Elon Musk co-founded X.com, an online financial services and email-payments company, using proceeds from the earlier sale of his company Zip2. X.com set out to build a full online bank. economy / technology ●●

c. 1999 Jubilee 2000 campaign pressures G7 on debt cancellation 0 cit. The international Jubilee 2000 campaign, drawing on the biblical concept of periodic debt forgiveness, pressured G7 leaders meeting in Cologne to expand debt relief for the poorest countries, arguing much of the debt was odious, having been contracted by unaccountable or dictatorial regimes with little benefit to ordinary citizens. The campaign helped push the G7 to expand the HIPC framework later that year, though full cancellation the campaign sought was not achieved. diplomacy / economy ●

c. 1999 The armies turn to systematic plunder 0 cit. Once the front lines stalled, the occupying armies and their proxies financed themselves by stripping the territories they held of coltan, gold, diamonds, and timber. Soldiers ran mines, taxed traders, and shipped minerals out through Rwanda, Uganda, and Zimbabwe. Extraction became a reason to keep fighting rather than merely a means to fund it. economy / war ●●●

1999 The CIA launches In-Q-Tel, a spy agency's venture fund 0 cit. The CIA set up In-Q-Tel, a nonprofit venture-capital firm meant to invest in Silicon Valley startups whose technology the agency wanted. It marked a new, open relationship in which the intelligence community funded and shaped commercial tech companies. economy / politics / technology ●●

1 January 1999 The euro is launched 0 cit. Eleven European nations adopt the euro as a shared currency, managed by a new European Central Bank. It created the first serious rival to the dollar as a reserve and trade currency. The euro took a solid second place in global reserves but did not displace the dollar from the top. economy / politics ●●●

1 January 1999 The CFA peg moves from the franc to the euro 0 cit. When France joins the euro, the CFA franc is pegged to the new currency at a fixed rate of about 656 CFA to one euro. The French Treasury continues to guarantee convertibility, so the anchor changes but the underlying arrangement does not. African members gain no vote in the eurozone that now backs their money. diplomacy / economy ●●

13 May 1999 Kenya accedes to the UPOV Convention 0 cit. Kenya became a member of the International Union for the Protection of New Varieties of Plants, adopting plant breeders' rights into its own law. Membership committed Kenya to protecting registered commercial varieties and shaped later seed legislation. Food-sovereignty advocates trace the squeeze on informal seed systems in part to obligations that arrived through UPOV membership. economy / politics / society ●

1999 Moi appoints Uhuru to the Kenya Tourism Board 2 cit. In 1999 President Daniel arap Moi appointed Uhuru Kenyatta to chair the Kenya Tourism Board. The office introduced him to national-level power brokers and made the former presidents son a visible public manager before he had won an elective seat. It was part of Moi grooming a succession figure who could carry KANU beyond Moi. economy / politics ●●●

2000 Founding of BNP Paribas 0 cit. Banque Nationale de Paris merges with investment bank Paribas to form the eurozone's largest bank. Its roots reach back to the Comptoir National d'Escompte de Paris, founded in the revolutionary year of 1848. economy ●●●

January 2000 Founding of Baidu 0 cit. Robin Li and Eric Xu found Baidu in Beijing. It becomes China's dominant search engine and later a major investor in autonomous driving and artificial intelligence. economy / technology ●●

c. 2000 The democratic deficit critique contested 0 cit. Critics argue that unelected institutions dominated by rich countries set policies that override the choices of borrowing governments. Defenders counter that conditions are the price of loans no private lender would offer. economy / politics ●●●

March 2000 The Meltzer Commission report 0 cit. A US congressional commission led by economist Allan Meltzer issued a bipartisan report criticizing the IMF and World Bank for ineffective lending and mission creep. It recommended a narrower role for both institutions. economy / politics ●●●

c. September 2000 Blue Origin founded 0 cit. Jeff Bezos quietly founded the rocket company Blue Origin to lower the cost of reaching space. It later flew a reusable suborbital rocket and carried paying passengers. economy / technology ●●●

2000 Pandora music is named for Pandora's box of Greek myth 0 cit. The music-streaming service, launched in 2000, is named after Pandora's box of Greek myth, opening to reveal a tailored world of songs. economy / religion / technology ●●

c. 2000 China drives a national education arms race 0 cit. Rapid growth fueled heavy family investment in tutoring and exam prep as students competed for top universities. Shanghai's chart-topping PISA scores drew world attention to Chinese schooling. economy / society ●●●

May 2000 Kimberley Process talks begin in South Africa 0 cit. Southern African diamond-producing states, industry representatives, and NGOs met in Kimberley to negotiate a certification scheme that would keep conflict diamonds out of the legitimate trade. The talks, named after the town, led to a series of negotiations completed over the following two years. diplomacy / economy ●●

c. 2000 De Beers ends the Central Selling Organisation single-channel model 0 cit. Facing antitrust pressure and competition from independent producers such as Russia's Alrosa and new Canadian mines, De Beers began dismantling the Central Selling Organisation's stockpile-and-control system in favor of a 'Supplier of Choice' model selling to a smaller set of approved clients at set prices. The change ended De Beers's decades-long role as the buyer of last resort for the entire world diamond supply. economy ●●

March 2000 X.com and Confinity merge 0 cit. X.com and Confinity merged into a single company, combining Musk's online bank with Confinity's PayPal payment product. The merged firm initially operated under the X.com name before rebranding as PayPal. economy / technology ●●

19 September 2000 Musk ousted as CEO in board coup 0 cit. While Elon Musk was on his honeymoon, the company's board voted to remove him as CEO amid disagreements over technical direction, including his skepticism of Max Levchin's anti-fraud tools. Peter Thiel became CEO in his place, and the company was renamed PayPal. economy / technology ●●

28 July 2000 Putin meets business leaders and sets terms of a new arrangement 0 cit. Putin summoned roughly twenty of Russia's leading businessmen to the Kremlin and reportedly told them the state would not revisit the legality of 1990s privatizations so long as they stayed out of politics and paid their taxes. The meeting is widely described, including by Putin himself in public remarks, as establishing an informal bargain: keep your wealth, but do not challenge the Kremlin. economy / politics ●●●

13 June 2000 Gusinsky arrested and pressured to sell Media-Most 0 cit. Vladimir Gusinsky was arrested on embezzlement charges and held briefly in Moscow's Butyrka prison. He was released after signing an agreement, later made public, to sell his Media-Most holdings, including NTV, to the state-controlled gas company Gazprom in exchange for the charges being dropped, a deal his lawyers said amounted to extortion. economy / politics ●●●

c. January 2000 Two readings of the Putin era, as argued by supporters 0 cit. Supporters of Putin, including many Russian officials and some Western analysts, have argued that his actions against Gusinsky, Berezovsky, and Khodorkovsky ended a period of oligarchic plunder and state weakness, restoring order, tax collection, and stability financed by rising oil revenues through the 2000s. This reading treats the 1990s privatizations as the true theft and Putin's later moves as a correction that reasserted the state's authority. economy / politics ●●

c. January 2000 Two readings of the Putin era, as argued by critics 0 cit. Critics, including journalist Masha Gessen, economist Anders Aslund, and Kremlin opponents such as Khodorkovsky and the late Boris Nemtsov, have argued instead that Putin did not eliminate the oligarchy but replaced it, transferring assets from independent businessmen to a narrower circle of loyalists and former security service colleagues, the siloviki, who now control state companies like Gazprom and Rosneft. In this reading, the underlying pattern of insider enrichment continued, only with Putin and his allies as the principal beneficiaries. economy / politics ●●

c. 1 January 2000 The rise of the siloviki 0 cit. Under Putin, men from the security and military services, known as the siloviki, moved into senior posts across government, state companies, and business. Sociologists such as Olga Kryshtanovskaya documented a sharp rise in the share of the political elite with a security or military background. Figures with FSB and KGB roots took control of major state firms and regulatory bodies. This network became a core support base of the Putin system, though scholars debate how unified the siloviki really are. economy / politics ●●●

13 June 2000 Vladimir Gusinsky and the seizure of NTV 0 cit. Media magnate Vladimir Gusinsky, whose NTV channel had criticised Putin and the Chechen war, was arrested on fraud charges soon after Putin took office. He was released after agreeing to sell his media holdings to the state gas company Gazprom, then left Russia. The state's takeover of NTV was widely seen as the end of Russia's most independent national broadcaster. The case signalled that oligarchs who challenged the Kremlin through the media would face the security and legal apparatus. economy / politics / society ●●

c. 1 November 2000 Boris Berezovsky flees into exile 0 cit. Boris Berezovsky, an oligarch who had helped bring Putin to power, broke with the new president and left Russia under threat of prosecution. He settled in Britain, was granted political asylum, and became a vocal Kremlin opponent from abroad. Russia repeatedly sought his extradition on fraud charges, which Britain refused. His fall showed that even oligarchs close to the Kremlin could be pushed out once they crossed Putin. The month shown is approximate. economy / politics ●●

c. 1 January 2000 The FSB as business protection: krysha 0 cit. Researchers and investigative journalists have documented how FSB officers extended a form of protection, known in Russian as krysha, or roof, over private businesses. Companies gained security and help against rivals and regulators in exchange for loyalty, payments, or a share of the business. This blurred the line between the security service and organised commerce, and gave the FSB deep reach into the economy. The practice built up over the 2000s, so the date is given as an approximate marker. economy / politics / society ●●

June 2000 Rwanda and Uganda turn on each other at Kisangani 0 cit. The two allied invaders fell out over control of the diamond city of Kisangani and fought several rounds of battle on Congolese soil. The Six-Day War of June 2000 flattened parts of the city and killed hundreds of civilians caught between their guns. The clash exposed how far the intervention had become a scramble for resources rather than security. economy / war ●●

c. 2000 The coltan boom funds the war 0 cit. A spike in world demand for tantalum, refined from coltan and used in mobile phones and game consoles, sent prices soaring around 2000. Congolese coltan, dug by hand in the Kivus, was flown out through Rwanda and sold to global electronics supply chains. UN investigators estimated Rwanda earned on the order of hundreds of millions of dollars from Congolese coltan during the occupation. economy / technology ●●●

c. 2000 Rwanda's war economy in the Kivus 0 cit. UN investigators described a Rwandan military structure, sometimes called the Congo desk, that channeled revenue from Congolese minerals to fund the army and the war effort. Rwanda, which produces little coltan of its own, became a major exporter of the mineral during the occupation. Kigali denied looting and framed its presence as a matter of national security. economy / war ●●

c. 2000 Zimbabwe and Uganda cash in on the war 0 cit. Zimbabwean generals close to Mugabe secured diamond and timber concessions in exchange for propping up Kabila, through ventures with names like Osleg. On the other side, Uganda exported large quantities of gold and diamonds despite mining almost none itself, evidence of goods siphoned out of Congo. For elites on every side the war paid, which was part of why it dragged on. economy / politics ●●

c. 2000 Modern global finance is overwhelmingly not Jewish contested 0 cit. The world's largest banks, asset managers, central banks, and sovereign wealth funds are run overwhelmingly by non-Jews across America, Europe, and Asia, and Jews are a tiny fraction of the global financial workforce. There is no cabal, no secret Rothschild control of governments, and no hidden Jewish hand behind the economy; these are conspiracy theories, not descriptions of reality. The documented history is of a persecuted minority once pushed into lending, later prominent in a few niches, and never in control of world finance. economy / society ●●●

c. 2000 The land clause and Zimbabwe's later crisis 0 cit. By 2000, with land still largely in white hands, Mugabe's government launched fast-track land reform and seized commercial farms, often violently. The government blamed the Lancaster House willing buyer, willing seller clause and what it called Britain's failure to fund resettlement for the slow pace of change. Critics blamed government policy, corruption, and the use of land as patronage. The dispute over who caused the crisis remains unsettled. economy / politics ●●

February 2000 The referendum, the invasions, and fast-track seizures 0 cit. Voters reject a draft constitution in February 2000, and soon after, ZANU-PF-aligned war veterans begin occupying white-owned farms, followed by a state Fast Track Land Reform Programme. Over the next years several thousand commercial farmers are pushed off their land, farm output collapses, hyperinflation follows, and many black farm workers are also dispossessed. Whether the Lancaster House clause doomed orderly reform, or whether policy failures and political patronage under Mugabe are more to blame, is debated among scholars. economy / politics / society ●●●

c. 2000 The Angolagate scandal exposes arms for oil 0 cit. A French investigation uncovers a network that sold hundreds of millions of dollars of weapons to Angola's government during its civil war in exchange for oil access. Those convicted at the 2008 trial included businessmen and figures tied to French political circles, among them a former president's son. The affair showed how French private interests, arms and African resources were traded together. economy / war ●●

7 July 2000 The East African Community is revived 0 cit. The Treaty for the Establishment of the East African Community, signed by Kenya, Tanzania, and Uganda in November 1999, enters into force, reviving a bloc that had collapsed in 1977. It sets a path toward a customs union, common market, monetary union, and eventual political federation. The community is headquartered in Arusha. diplomacy / economy ●●●

18 May 2000 Kenya gains AGOA trade preferences with the United States 0 cit. The United States enacts the African Growth and Opportunity Act, and Kenya is designated eligible, gaining duty-free access to the US market for many goods including apparel. The preferences underpin a large Kenyan garment-export sector and thousands of jobs. Because AGOA is a unilateral US programme granted and reviewed by Washington and subject to periodic renewal, critics note the access can be conditioned or withdrawn at US discretion. diplomacy / economy ●●

18 May 2000 African Growth and Opportunity Act signed into law 0 cit. The United States enacted AGOA, granting eligible sub-Saharan African countries duty-free access to the US market for thousands of products. Eligibility is reviewed each year by the US administration against criteria that include market openness and protection of US commercial interests. Supporters call it a generous trade preference; critics such as dependency scholars argue the annual, unilateral eligibility review turns market access into political leverage over African policy. diplomacy / economy / politics ●●●

2000 The NHS Plan turns to overseas recruitment 0 cit. England's NHS Plan set targets for thousands of new doctors and nurses and backed active recruitment from abroad to meet them. It opened a sustained drive to hire staff trained in other countries. Britain has relied on internationally trained health workers ever since. economy / politics / society ●●

c. 2000 Gulf states recruit health workers at scale 0 cit. Wealthy Gulf states built much of their hospital workforce by hiring abroad, drawing nurses and doctors from the Philippines, India and across Africa and the Middle East. The United Arab Emirates alone employs tens of thousands of Filipino nurses. Private recruitment agencies handle much of the hiring. economy / society ●●

2 December 2001 Collapse of Enron 0 cit. Energy trader Enron files what is then the largest bankruptcy in U.S. history after massive accounting fraud is exposed. The scandal wipes out employee pensions and leads to the Sarbanes-Oxley reforms. economy / politics ●●●●

11 December 2001 China joins the WTO 1 cit. China becomes a member of the World Trade Organization after fifteen years of negotiation. Its full entry into world trade accelerates globalization, remakes supply chains, and shifts economic power toward Asia. economy ●●●●

January 2001 First World Social Forum 0 cit. Activists and civil society groups held the first World Social Forum in Brazil as a counterpoint to the World Economic Forum in Davos. It became a recurring gathering for movements critical of corporate globalization. economy / society ●●

December 2001 China joins the World Trade Organization 0 cit. China acceded to the World Trade Organization in December 2001. Membership accelerated its integration into the global economy and its rise as a manufacturing power. economy ●●●●●

19 March 2001 to 2006 Bank of Japan launches quantitative easing 0 cit. The Bank of Japan becomes the first major central bank to adopt an explicit quantitative easing policy, targeting the level of bank reserves after interest rates hit zero. economy / politics ●●●●

December 2001 to 2002 The Argentine economic collapse 0 cit. Argentina defaulted on around 100 billion dollars of debt amid bank freezes, riots, and the resignation of several presidents in weeks. Many Argentines blamed years of IMF-endorsed policy, while the Fund pointed to domestic mismanagement. economy / politics ●●●●

2001 Venus razors are named for the Roman goddess of love 0 cit. Gillette introduced its Venus razor for women in 2001, named after Venus, the Roman goddess of love and beauty. culture / economy / religion ●●

May 2001 The ISL collapse exposes FIFA marketing-partner bribery 0 cit. The bankruptcy of FIFA's marketing partner International Sport and Leisure reveals that the firm had paid tens of millions of dollars in bribes to football officials over the prior decade. Swiss prosecutors later confirmed payments to senior FIFA figures, an early documented crack in FIFA's finances that foreshadowed the larger corruption scandal to come. economy / politics ●●

22 August 2001 Sherron Watkins warns of fraud at Enron 0 cit. Enron vice president Sherron Watkins wrote to chairman Kenneth Lay warning that the company's accounting could collapse in a wave of scandals. Enron filed for bankruptcy months later in one of the largest corporate frauds in US history. Her memo made her a central witness in the investigations that followed. economy / politics ●●●

April 2001 The UN Panel of Experts reports on illegal exploitation 0 cit. A UN Panel of Experts published the first of several reports documenting the systematic looting of Congo's natural resources by the warring states. It named Rwanda, Uganda, and Zimbabwe and detailed the networks of officers, front companies, and dealers involved. The reports linked the plunder directly to the continuation of the war and named foreign companies as buyers. diplomacy / economy ●●●

2001 The world reaches for one set of accounting rules 0 cit. The International Accounting Standards Board was set up to produce International Financial Reporting Standards, aiming for one accounting language across borders. More than a hundred countries adopted IFRS, but the United States kept its own GAAP, so full global convergence stalled. The split reflects real differences in legal systems and in who the accounts are meant to serve. diplomacy / economy ●●

2001 Enron makes debt disappear off the books 0 cit. The energy trader Enron hid billions in debt and faked profits using off-balance-sheet partnerships that its own auditors signed off on. When the accounting collapsed the firm went bankrupt, wiping out shareholders and employee pensions. Enron became the emblem of creative accounting, where the numbers were technically defended yet designed to deceive. economy / politics ●●●

2001 Afghanistan's opium boom during the US war 0 cit. The Taliban had nearly wiped out opium poppy in 2000 and 2001, but after the US-led invasion cultivation surged and Afghanistan came to supply the large majority of the world's opium, according to UN drug office data. Warlords, officials, and insurgents all drew money from the trade during two decades of American war. economy / politics / war ●●●

14 November 2001 Doha Declaration affirms access to generic medicines under TRIPS 0 cit. WTO members adopted the Doha Declaration on the TRIPS Agreement and Public Health, affirming that patent rules should not block countries from protecting public health. It confirmed governments could issue compulsory licenses and import generic medicines during health emergencies. The declaration answered developing-country concerns that TRIPS patent protection kept lifesaving drugs, including HIV treatments, unaffordable in Africa. diplomacy / economy / society ●●

2001 Thandika Mkandawire argues adjustment hollowed out the state 0 cit. Economist Thandika Mkandawire argues that adjustment and anti-state doctrine dismantled the planning and administrative capacity Africa needed to build developmental states, comparing the outcome unfavourably with East Asia. The reading that structural adjustment gutted state capacity is his argument and that of allied critics. Defenders of the reforms respond that the states being trimmed were already insolvent and unaccountable. economy / politics ●●

24 July 2001 Silverstein signs a 99-year lease on the World Trade Center 0 cit. Larry Silverstein's Silverstein Properties takes over a 99-year lease on the World Trade Center from the Port Authority of New York and New Jersey. The deal, worth about $3.2 billion, closes just six weeks before the attacks. It is the first time the complex passes to private management. economy ●●●

July 2001 The complex is insured for about $3.5 billion per occurrence 0 cit. As part of the lease, the World Trade Center is insured through a group of companies for roughly $3.5 billion per occurrence. The policies were still being finalized in temporary form when the attacks happened, which left the exact terms open to argument. The phrase per occurrence would become the center of years of litigation. economy ●●●

2001 Richard Werner argues the bubble was engineered by the Bank of Japan 0 cit. In his book "Princes of the Yen," a bestseller in Japan in 2001 and published in English in 2003, economist Richard Werner argued that the Bank of Japan deliberately created the bubble and then the crash. He points to window guidance, an informal system in which the central bank told commercial banks how much and to whom to lend. In his account the bank used this credit control to force a crisis that would push through structural change. This is a heterodox interpretation attributed to Werner, and mainstream economists dispute that the outcome was intended. economy / politics ●●●●

2001 The Mara Triangle is delegated to Mara Conservancy management 2 cit. The western Mara Triangle remained part of the Maasai Mara National Reserve, but day-to-day management was delegated to the Mara Conservancy through agreement with the local authority. This did not privatize the reserve title. It did create a public-private management model in which security, roads, tourism control and revenue collection could be run by a contracted conservation body. economy / environment / politics ●●●

2002 Founding of SpaceX 0 cit. Elon Musk founds SpaceX to cut the cost of spaceflight. Its reusable Falcon rockets and Starlink constellation make it the dominant commercial launch provider and the first private company to fly astronauts to orbit. economy / exploration / science / technology ●●●●

June 2002 Collapse of Arthur Andersen 0 cit. Accounting giant Arthur Andersen is convicted of obstruction for shredding Enron audit documents and surrenders its licenses, ending a 89-year-old firm. The Big Five accounting firms become the Big Four. economy ●●●

21 July 2002 Collapse of WorldCom 0 cit. Telecom carrier WorldCom files for bankruptcy after revealing billions in fraudulent accounting, surpassing Enron as the largest U.S. bankruptcy to date. CEO Bernard Ebbers is later jailed for fraud. economy ●●●

12 October 2002 Bali bombings 0 cit. Bombs at nightspots in Kuta, Bali, killed 202 people, many of them foreign tourists. The attack by Jemaah Islamiyah was the deadliest in Indonesian history. economy / religion ●●●●

1 January 2002 Euro notes and coins enter circulation 0 cit. Euro banknotes and coins replaced national currencies such as the mark, franc, and lira in everyday use. Millions of people began handling a shared currency for the first time. economy / society ●●●

2002 Stiglitz and Globalization and Its Discontents 0 cit. Former World Bank chief economist Joseph Stiglitz published a widely read critique arguing the IMF pushed rigid, one-size-fits-all policies that served creditors over the poor. The book gave academic weight to the case against the Washington Consensus. economy / politics ●●●●

c. March 2002 SpaceX founded 0 cit. Elon Musk founded SpaceX with the goal of cutting launch costs and eventually reaching Mars. The company grew into NASA's main partner for cargo and crew flights. economy / exploration / technology ●●●●

February 2002 PayPal goes public 0 cit. PayPal held its initial public offering, becoming the first internet company to go public in eighteen months at the time. The IPO valued the company at roughly 1.2 billion dollars and gave its founders and early employees significant paper wealth ahead of the eBay sale. economy / technology ●●

3 October 2002 eBay acquires PayPal 0 cit. eBay completed its acquisition of PayPal in a stock-for-stock deal valued at approximately 1.5 billion dollars. The sale made PayPal's founders and early employees wealthy and freed them to pursue new ventures, scattering the group across Silicon Valley. economy / technology ●●●

2002 Thiel founds Clarium Capital 0 cit. Peter Thiel founded Clarium Capital Management, a global macro hedge fund that made bets based on his predictions about geopolitical and economic trends. Clarium became one of Thiel's early post-PayPal ventures alongside his angel investing. economy ●

December 2002 LinkedIn founded 0 cit. Reid Hoffman, a PayPal board member and former executive vice president, co-founded LinkedIn with several colleagues from his earlier company SocialNet. The professional networking site launched publicly in May 2003 and became one of the PayPal network's biggest successes. economy / technology ●●

2002 Angola's oil funds a war and an opaque elite 0 cit. As Angola's long civil war ended in 2002, the government financed itself with offshore oil through the state company Sonangol, while the UNITA rebels had run on diamonds. The International Monetary Fund and campaigners reported large gaps between oil income and the public accounts, with billions unexplained. Angola became a case where oil wealth flowed to a narrow elite and foreign partners while much of the population stayed poor. economy / politics / war ●●

2002 Transparency campaigns take on the resource curse 0 cit. At a global summit British Prime Minister Tony Blair backed the Extractive Industries Transparency Initiative, launched soon after, which asks governments and companies to publish what they pay and receive for oil, gas, and minerals. Alongside the Publish What You Pay campaign, the idea was that openness could stop rents from vanishing into private hands. Supporters call it a real check, while skeptics say disclosure alone does not fix the politics that let elites capture the money. diplomacy / economy / politics ●●

2002 Arthur Andersen falls with its client 0 cit. Arthur Andersen, one of the Big Five audit firms, was convicted of obstruction of justice for shredding Enron documents and surrendered its licenses, destroying a firm of 85,000 people. The Supreme Court later overturned the conviction, but too late to save it. The collapse showed the danger when the auditor earns large consulting fees from the client it is meant to police. economy / politics ●●●

2002 WorldCom books expenses as investment 0 cit. The telecom giant WorldCom inflated profits by roughly eleven billion dollars, mainly by recording ordinary operating costs as capital investment so they would not hit the current year's earnings. It was one of the largest accounting frauds in history and pushed the biggest bankruptcy the country had seen, deepening the crisis of trust that followed Enron. economy / politics ●●

2002 Sarbanes-Oxley tries to restore trust in the numbers 0 cit. After Enron and WorldCom, Congress passed the Sarbanes-Oxley Act, forcing chief executives to personally certify their accounts, tightening rules on internal controls, and creating a public board to oversee auditors and limit the consulting they sell to audit clients. Supporters say it made fraud harder, critics that it loaded heavy compliance costs onto business without ending creative accounting. economy / politics ●●

July 2002 The African Union replaces the OAU 0 cit. The Organisation of African Unity was formally succeeded by the African Union, launched at a summit in Durban. The new body promised closer economic and political integration, echoing the old Pan-African goal of continental unity. Supporters see it as a step toward that vision, while critics note that a united Africa on the scale Nkrumah imagined remains unrealized. diplomacy / economy / politics ●●

2002 Frederick Cooper names the 'gatekeeper state' 0 cit. Historian Frederick Cooper describes the colonial state as a 'gatekeeper' that controlled the border between the domestic economy and the outside world but had little reach or capacity inside its own territory. He argues African rulers inherited this thin, revenue-guarding state at independence. Cooper offers this as an interpretive frame for why postcolonial states struggle to govern in depth. economy / politics ●●

c. 2002 One occurrence or two: the insurance battle 0 cit. Silverstein argued the two plane strikes into two towers were two separate occurrences, which would double the payout toward about $7 billion. The insurers argued it was a single coordinated event, so a single payout. The dispute turned on which insurers' policy wording applied, and it ran through several trials and appeals. economy ●●●

1 July 2003 Founding of Tesla 0 cit. Martin Eberhard and Marc Tarpenning incorporate Tesla Motors, soon joined and led by Elon Musk. Its electric cars force the global auto industry to abandon the internal combustion engine. economy / environment / technology ●●●

5 August 2003 Jakarta Marriott Hotel bombing 0 cit. A suicide car bomb struck the JW Marriott Hotel in Jakarta, killing 12 people. The attack was attributed to the militant group Jemaah Islamiyah. economy / religion ●●

28 April 2003 Apple opens the iTunes Store 0 cit. Apple's iTunes Store sold single tracks for 99 cents with the backing of the major labels. It offered a legal answer to file sharing and reshaped the music business. economy / technology ●●●●