economic restructuring

Economic restructuring refers to a strategic process where a country's economy undergoes significant changes to improve growth, efficiency, and competitiveness. This often involves shifting resources from declining industries to emerging sectors, adopting new technologies, and updating regulations and policies. The goal is to create a more balanced, sustainable economy capable of adapting to global trends and challenges. It's like reorganizing a company's operations to operate more effectively, but on a national scale, aiming for long-term economic health and resilience.