Reykjavík 1972, Reykjavík hosted the world chess championship between Bobby Fischer and Boris Spassky. The 1986 Reykjavík Summit between Ronald Reagan and Mikhail Gorbachev underlined Reykjavík's international status. Deregulation in the financial sector and the computer revolution of the 1990s again transformed Reykjavík. The financial and IT sectors are now significant employers in the city. The city has fostered some world-famous talents in recent decades, such as Björk, Ólafur Arnalds and bands Múm, Sigur Rós and Of Monsters and Men, poet Sjón and visual artist Ragnar Kjartansson. Reykjavík is located in the southwest of Iceland. The Reykjavík area coastline is characterized
Mikhail Gorbachev for five years. In July 2016, Gorbachev criticized the North Atlantic Treaty Organization amid escalating tensions between the military alliance and the Russian Federation. Gorbachev has accused NATO of preparing for a "hot" war against Russia, saying that "All the rhetoric in Warsaw just yells of a desire almost to declare war on Russia. They only talk about defence, but actually they are preparing for offensive operations." In June 2018, Gorbachev welcomed the 2018 Russia–United States summit between Vladimir Putin and Donald Trump in Helsinki, Finland. In October 2018, Gorbachev criticized President Donald Trump's threat to withdraw from the 1987