Part 5/9:
Italian manufacturing, while substantial, does not operate on a massive scale typical of other industrialized nations. Rather, it consists of a series of small to medium-sized enterprises focused on finely crafted goods. This localized approach offers some protection in chaotic global markets but comes with its own set of challenges, including high levels of debt exceeding 150% of GDP.
When the global financial crisis struck in 2008, Italy was significantly impacted and has since struggled with lackluster GDP growth, persistent youth unemployment, and weak banking practices. These economic conditions sow discontent among the population, particularly the younger demographics.