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
Foreign policy of the Ronald Reagan administration crisis and stated that the Soviet Union "runs against the tide of history by denying human freedom and human dignity to its citizens." This was before Gorbachev rose to power in 1985. Reagan later wrote in his autobiography "An American Life" that he "did not see the profound changes that would occur in the Soviet Union after Gorbachev rose to power." To confront the Soviet Union's serious economic problems, Gorbachev implemented bold new policies for freedom and openness called glasnost and perestroika. Reagan relaxed his aggressive rhetoric toward the Soviet Union after Gorbachev became chairman of the Soviet Politburo in