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Multithreading in Python improves performance but uncaught exceptions in a thread cause silent termination, requiring careful exception handling.
Asyncio is Python's library for writing concurrent code with async/await, ideal for I/O-bound tasks. It uses a single-threaded event loop instead of threads for efficient task switching.
Python multithreading enables concurrent execution but is limited by the Global Interpreter Lock (GIL). It's best for I/O-bound tasks, not CPU-intensive ones, and requires careful handling.