1870 sees the Franco-Prussian War, the unification of Germany, the unification of Italy, and the reorganization of continental politics. The US is in dynamic industrial and Western expansion following the Civil War. Britain is in the Long Depression of 1873 - 1896, until the flow of South African gold stops deflation and starts the economic boom. However, Britain is not competitive with the US and Germany and depends more and more on its Imperial system of trade.

Now consider that 1989-1991, with the reorganization of China following Tiananmen and the collapse of the Soviet Union are a similar epochal reorganization of global power structures.

It seems likely that we are now in our own Edwardian Era.