The 1987 Sharjawi coup or the 1987 Emirati crisis was a political crisis in the United Arab Emirates (UAE) when, due to economic recession due to the 1980s oil glut, the brother of Sultan bin Muhammad Al-Qasimi, the Sheikh of the Emirate of Sharjah, Sheikh `Abd al-`Aziz bin Muhammad Al Qasimi, attempted to stage a bloodless palace coup seizing key positions throughout Sharjah with military elements loyal to him. The coup destabilized the foundation of the still young UAE, and threatened to break the union back into its constituent Emirates, however, it would ultimately fail due to Mohammed bin Rashid Al Maktoum convincing the other Emirati leaders to reinstall the deposed Sultan bin Muhammad Al-Qasimi.
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1980s oil glut in the context of Miguel de la Madrid
Miguel de la Madrid Hurtado (Spanish pronunciation: [miˈɣel de la maˈðɾið uɾˈtaðo]; 12 December 1934 – 1 April 2012) was a Mexican politician and lawyer affiliated with the Institutional Revolutionary Party (PRI) who served as the 59th president of Mexico from 1982 to 1988.
Inheriting a severe economic and financial crisis from his predecessor José López Portillo as a result of the international drop in oil prices and a crippling external debt on which Mexico had defaulted months before he took office, De la Madrid introduced sweeping neoliberal policies to overcome the crisis, beginning an era of market-oriented presidents in Mexico, along with austerity measures involving deep cuts in public spending. In spite of these reforms, De la Madrid's administration continued to be plagued by negative economic growth and inflation for the rest of his term, while the social effects of the austerity measures were particularly harsh on the lower and middle classes, with real wages falling to half of what they were in 1978 and with a sharp rise in unemployment and in the informal economy by the end of his term.
1980s oil glut in the context of José López Portillo
José Guillermo Abel López Portillo y Pacheco (Spanish pronunciation: [xoˈse ˈlopes poɾˈtiʝo]; 16 June 1920 – 17 February 2004) was a Mexican writer, lawyer, and politician affiliated with the Institutional Revolutionary Party (PRI) who served as the 58th president of Mexico from 1976 to 1982. López Portillo was the only official candidate in the 1976 presidential election, being the only president in recent Mexican history to win an election unopposed.
Politically, the López Portillo administration began a process of partial political openness by passing an electoral reform in 1977 [es] which loosened the requisites for the registration of political parties (thus providing dissidents from the left, many of whom had hitherto been engaged in armed conflict against the government, with a path to legally participate in national politics) and allowed for greater representation of opposition parties in the Chamber of Deputies, as well as granting amnesty to many of the guerrilla fighters from the Dirty War. On the economic front, López Portillo was the last of the so-called economic nationalist Mexican presidents. His tenure was marked by heavy investments in the national oil industry after the discovery of new oil reserves, which propelled initial economic growth, but later gave way to a severe debt crisis after the international oil prices fell in the summer of 1981, leading Mexico to declare a sovereign default in 1982. As a result of the crisis, the last months of his administration were plagued by widespread capital flight, leading López Portillo to nationalize the banks three months before leaving office, and by the end of his term Mexico had the highest external debt in the world. His presidency was also marked by widespread government corruption and nepotism.