Economy rises

Bond Bug ES 700 - 1973

It   is   a   wedge-shaped   microcar,   with   a   lift-up canopy      and      side      screens      instead      of conventional   doors.   Following   the   purchase   of Bond    Cars    Ltd.,    Reliant    commissioned    Tom Karen   of   Ogle   Design   to   design   a   fun   car.   The Bond   Bug   was   based   on   Chief   Engineer   John Crosthwaite's   newly   designed   chassis   and   some Reliant     Regal     running     gear.     The     original concept    was    explored    by    chopping    down    a production   Regal   vehicle,   the   rear   of   the   car being   shortened   to   end   over   the   rear   axle. This prototype   could   be   seen   for   many   years   later, languishing    in    the    yard    at    the    rear    of    the factory,   by   anyone   who   cared   to   look   through the chain-link fence from the canal towpath.

Honda N600 - 1970

The   Honda   N360   is   a   kei   car,   designed   and built   by   Honda   and   produced   from   March   1967 through    1970,    while    the    larger    N600    was marketed   through   1973.   After   a   January   1970 facelift,    the    N360    became    the    NIII360    and continued in production until 1972.

1970-1979

In   the   21st   century   historians   have   increasingly   portrayed   the   decade   as   a   "pivot   of   change"   in   world   history   focusing   especially   on   the   economic   upheavals.   In the   Western   world,   social   progressive   values   that   began   in   the   1960s,   such   as   increasing   political   awareness   and   political   and   economic   liberty   of   women, continued   to   grow.   In   the   United   Kingdom   the   1979   elections   resulted   in   the   victory   of   its   Conservative   Party   under   Margaret   Thatcher,   the   first   and   to   date only   female   British   Prime   Minister.   Industrialized   countries,   except   Japan,   experienced   an   economic   recession   due   to   an   oil   crisis   caused   by   oil   embargoes   by the   Organization   of   Arab   Petroleum   Exporting   Countries.   The   crisis   saw   the   first   instance   of   stagflation   which   began   a   political   and   economic   trend   of   the replacement   of   Keynesian   economic   theory   with   neoliberal   economic   theory,   with   the   first   neoliberal   governments   being   created   in   Chile,   where   a   military coup led by Augusto Pinochet took place in 1973. Novelist   Tom   Wolfe   coined   the   term   "'Me'   decade"   in   his   essay   "The   'Me'   Decade   and   the   Third   Great   Awakening",   published   by   New   York   magazine   in   August 1976   referring   to   the   1970s.   The   term   describes   a   general   new   attitude   of   Americans   towards   atomized   individualism   and   away   from   communitarianism   in clear contrast with the 1960s. In   Asia,   affairs   regarding   the   People's   Republic   of   China   changed   significantly   following   the   recognition   of   the   PRC   by   the   United   Nations,   the   death   of   Mao Zedong   and   the   beginning   of   market   liberalization   by   Mao's   successors.   Despite   facing   an   oil   crisis   due   to   the   OPEC   embargo,   the   economy   of   Japan   witnessed a   large   boom   in   this   period,   overtaking   the   economy   of   West   Germany   to   become   the   second-largest   in   the   world.   The   United   States   withdrew   its   military forces   from   their   previous   involvement   in   the   Vietnam   War   which   had   grown   enormously   unpopular.   In   1979,   the   Soviet   Union   invaded Afghanistan   which   led to an ongoing war for ten years. The   1970s   saw   an   initial   increase   in   violence   in   the   Middle   East   as   Egypt   and   Syria   declared   war   on   Israel,   but   in   the   late   1970s,   the   situation   in   the   Middle East   was   fundamentally   altered   when   Egypt   signed   the   Egyptian–Israeli   Peace   Treaty.   Anwar   El   Sadat,   President   of   Egypt,   was   instrumental   in   the   event   and consequently   became   extremely   unpopular   in   the   Arab   World   and   the   wider   Muslim   world.   He   was   assassinated   in   1981.   Political   tensions   in   Iran   exploded with   the   Iranian   Revolution   in   1979   which   overthrew   the   Pahlavi   dynasty   and   established   an   Islamic   republic   of   Iran   under   the   leadership   of   the   Ayatollah Khomeini. The   economies   of   much   of   the   developing   world   continued   to   make   steady   progress   in   the   early   1970s,   because   of   the   Green   Revolution.   They   might   have thrived   and   become   stable   in   the   way   that   Europe   recovered   after   World   War   II   through   the   Marshall   Plan;   however,   their   economic   growth   was   slowed   by   the oil crisis but boomed immediately after.