The 1980s, spoken as "the Nineteen Eighties" or abbreviated as "The Eighties" or "the '80s", was the decade that began on Tuesday January 1, 1980, and ended on Sunday December 31, 1989. This was the ninth decade of the 20th century.
The time period saw great social, economic, and general change as wealth and production migrated to newly industrializing economies. As economic liberalization increased in the developed world, multiple multinational corporations associated with the manufacturing industry relocated into Thailand, Malaysia, Mexico, South Korea, Taiwan, and China. Japan and West Germany are the most notable developed countries that continued to enjoy rapid economic growth during the decade while other developed nations, particularly the United States and United Kingdom, re-adopted laissez-faire economic policies.
Developing countries across the world faced economic and social difficulties as they suffered from multiple debt crises in the 1980s, requiring many of these countries to apply for financial assistance from the International Monetary Fund (IMF) and the World Bank. Ethiopia witnessed widespread famine in the mid-1980s, resulting in the country having to depend on foreign aid to provide food to its population and worldwide efforts to address and raise money to help Ethiopians, such as the famous Live Aid concert in 1985.
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