Deindustrialization refers to the declining share of the industrial sector in gross domestic product (GDP) and employment, particularly in advanced economies where increased productivity has shifted consumer and government spending towards services.
The process of moving resources into the industrial sector, commonly seen in early economic development stages, significantly shaping modern economies and societies.
Deindustrialization refers to the decline of industrial activity in a region due to technological advancements and economic shifts, significantly impacting economies such as the United States with industries like steel, automotive, and electronics.
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