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
Jack F. Matlock Jr. Reagan rejected the proposals. Gorbachev began a period of internal economic restructuring, known as perestroika, and agreed to a series of summits with the American president. Matlock was instrumental in preparing Reagan for his first summit with Gorbachev, arranging for specialists within the government to write a "Soviet Union 101" course of 21 papers on Russia for Reagan to study. Matlock also participated in a mock summit, playing the role of Gorbachev, allowing Reagan to practice the encounter in advance. Speaking at a Chautauqua conference in Jūrmala, Latvia in June 1986, Matlock told the crowd that the United States did