The People's Republic of China embracing capitalism and becoming a global economic superpower.
Cliques of Native Americans becoming wealthy (although in reality much of their wealth would come from the gaming industry, mostly from tribal casinos).
Nike becoming a huge multinational conglomerate (In 1979, their "Tailwind" running shoe was just starting to gain popularity).
Vietnam becoming a major tourist attraction among Asia's wealthy and powerful (this was also predicted in Back To The Future Part II, as seen on billboards and on TV commercials, with the airline that takes most Americans there being US Air).
The continued existence and popularity of The Beach Boys in 1998.
The collapse of the USSR.
The depletion of US crude oil production, which, according to Hubbert's Peak theory, was already underway for several years at the time the film was made (Hubbert estimated in 1956 that the year of peak oil extraction in the United States would be 1970.).
Jogging suits becoming fashionable as "casual wear".
Reality television reaching absurd limits. (The telethon includes a boxing match between a mother and son. The son is played by Jay Leno.).
An America with a devalued dollar and heavily in debt to foreign lenders.
Network television dealing with previously taboo subjects accepted as normal. (Monty Rushmore stars in the sit-com, "Both Father and Mother", and plays a cross-dressing single father in the titular role. The film's narrative also mentions "The Schlong Show", a game show where contestants are judged by their reproductive organs.)
Smoking being banned.
A great increase in homelessness (Homelessness began to greatly increase in major U.S. cities during the recession of 1982 and the simultaneous cutting of the Section 8 program by the Reagan Administration).