State of the TL
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United States
Finally showing steady growth after the recession, Americans are more optimistic but divided. The troops are beginning to come home from Yugoslavia and the intervention in Somalia has been a success. With the end of the Cold War the next eight years could be a lead up to a new American Century. Outgoing President Biden is well-respected and despite the close election newly inaugurated President Thornburgh has a mandate.
Canada
The Meech Lake Accord passed.
United Kingdom
Prime Minister Norman Tebbit has made massive strides in suppressing the terrorism of the IRA, although a growing number of Britons now voice concerns that perhaps it is now time to talk. Tensions with the continent are stressed however as they express support for Greece when other European Community nations do not. The public is skeptical about further European integration and it is a growing schism within the Conservative Party. The issue of the Maastricht Treaty may exacerbate the problems.
Western Europe/European Community
Developments continue roughly according to events IOTL, save for Greece, and French-German relations were improved due to coordination during the Yugoslav Crisis, with the Franco-German Brigade being a public relations gold mine. But while Greece fights a civil war, they’ve been suspended from the EC and NATO. With changing sentiments and the end of the Cold War, opinion makers are questioning the existence of NATO.
Former Warsaw Pact
The nations are nervous that with the Sovereign Union still on their boarders that the union/empire/federation will revert to its old ways. The newly independent Baltic states are most nervous, looking at the border conflicts in the Caucuses with worry.
Former Yugoslavia
Slovenia and Macedonia are wholly independent, and the newly remodeled Yugoslav Republic has recognized the sovereignty of the Union of Croatia and Bosnia. General Veljko Kadijević and Minister Jovica Stanišić have presented themselves as the saviors of the country, dethroning the “madman” Milošević. With the “state of emergency” ending, Milo Đukanović is the front runner as the next President of Yugoslavia. Croatia and Bosnia is set to vote to approve a new constitution, and after years of fighting peace. The status of Kosovo is still debated, currently occupied by Albania, and a disputed referendum was held for its merging into Albania. American and NATO peacekeepers are still present but are slowly pulling out. The late American Vice President Rudy Perpich is considered a folk hero by Croatians and Bosnians, and Perpich Square in Sarajevo will be a tourist destination in future years.
Sovereign Union
The Union came closer to ruin than much of the public realizes, with a coup against President Mikhail Gorbachev broken up in the final hour of planning. Gorbachev has a friendly relation with his most powerful “junior president” Yury Luzhkov. Gorbachev has called for a constitutional convention to reorganize further, and Presidential elections have been set for 1994, with Gorbachev intending to run for reelection. Still, there is conflict in the south as question arise with regards to Chechnya, Georgia, Armenia, and Azerbaijan’s statuses and borders.
Middle East
Everything is OTL save for Iraq/Saudi Arabia. Saddam is in power but his economy has ground to a halt under US led sanctions and his neighbors have marginalized him, although they are happy to use him as a shield against Iran. Iran itself is seeing slow and steady change under Supreme Leader Montazeri and President Rafsanjani. But conservatives are growing weary of such quick changes.
East Asia
China’s growth is stunted compared to OTL due to less growth and shriveled ties with the west following Tiananmen Square, although Jiang Zemin is still reaching out. Japan’s bubble popped but at a lesser extent than IOTL. They were also the first large economy to follow the United States’ lead in imposing a ‘financial transaction tax’ in attempt to decrease market volatility.
Africa
South African reforms have been so far bolstered by strong support from the previous Biden Administration. Additionally the US led-NATO intervention in Somalia has been successful in its limited goal of ending the famine and distributing food aid.
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That's what I have for now in an effort to get everybody up to speed, but if there are more specific questions I can try and answer.