What term is used to describe the systematic withdrawal of investment in production facilities?

Deindustrialization refers to the process whereby industrial activity in a region or country is reduced or terminated, leading to a systematic withdrawal of investment in production facilities. This phenomenon often occurs as economies shift from manufacturing-based industries to service-oriented sectors. Deindustrialization can result in job losses, economic decline in certain regions, and significant social changes, as communities that once relied on industrial jobs face transition challenges. Understanding this term is crucial as it highlights broader economic trends and their implications on society, particularly in developed nations that have experienced significant industrial decline.