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The early part of the decade saw the long predicted breakthrough of economic giant, which had double-digit growth during nearly the whole decade. To a lesser extent,also benefited from an economic boom, which saw the two most populous countries becoming an increasingly dominant economic force. The rapid catching-up of emerging economies with developed countries sparked some protectionist tensions during the period and was partly responsible for an increase in energy andat the end of the decade. The economic developments in the latter third of the decade were dominated by a worldwide economic downturn, which started with thein the United States in late 2007 and led to the bankruptcy of major banks and other financial institutions. The outbreak of thissparked a global recession, beginning in the United States and affecting most of the industrialized world.

The growth of thecontributed toduring the decade, which allowed faster communication among people around the world;arose as a new way for people to stay in touch from distant locations, as long as they had an. The first social networking sites were,,, and, established in 2002, 2003, 2004, and 2006, respectively. Myspace was the most popular social networking website until June 2009, when Facebook overtook it in number of American users.continued to be popular throughout the decade and began to replace “” as the primary way of sending letters and other messages to people in distant locations, though it had existed since 1971.

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