The bubble appears to have burst for the global construction market, as more international design firms and contractors scramble to fill backlogs—creating a severe buyer's market that has had negative, and in some cases final, consequences for companies. There is a growing concern that geopolitical tensions and increasing economic nationalism are making clients nervous, leading to sagging confidence that conditions will continue to thrive. Also, companies worry that clients are becoming more ag- gressive in their demands and attitudes toward project risk allocation.
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