Deindustrialization is the process through which industrial activity in a region or economy diminishes over time, often marked by the closure of manufacturing plants and a shift towards service-oriented sectors. This transition can lead to significant economic and social changes, including job losses and urban decline.
The process of interaction and integration among people, companies, and governments worldwide, which can accelerate deindustrialization in developed countries as industries move to areas with lower labor costs.
Rust Belt: A region in the northeastern United States that experienced industrial decline starting in the late 20th century, characterized by abandoned factories and economic stagnation.
Service Economy: An economy or the sector of a nation's economy that is based on service industries and activities such as healthcare, education, retail, and information technology rather than on manufacturing or agriculture