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The EconomistGlobal Economic Analysis (2024)

The global supply chain faced unprecedented disruption due to geopolitical tensions and ongoing trade disputes between major economies. Therefore, many companies relocated their manufacturing operations to neighboring countries with more favorable business conditions. As a result, regional trade agreements gained significant importance in shaping international commerce and investment flows. Consequently, smaller economies started negotiating bilateral deals to secure their positions in the global market. Some nations experienced rapid industrial growth, while others struggled with rising adjustment costs and structural unemployment in key sectors.