1) Use preemptive system threads that can execute in parallel. A task requiring simultaneous waiting is given an operating system thread of its own so it can block without stopping the entire program. But threads require significant memory and other resources per thread. Also, the operating system can arbitrarily interleave the execution of system threads, requiring the programmer to carefully protect shared resources with locks and condition variables, which is exceedingly error-prone.
2) Have a single-threaded program, where that single thread runs an event loop whose job is to react to external events by invoking a callback function that has been registered. While it doesn't require the same kind of complex synchronization that preemptive threads do, the inverted control structure of this approach requires your own control flow to thread awkwardly through the system's event loop, leading to a maze of event callbacks.
Coroutines work with the latter style in an attempt to tame its complexity. They are themselves complex, however, and, in my opinion, that complexity doesn't pull its weight when you consider in the end you only have one thread.
Can anyone tell me what I'm missing or how these problems with these approaches have been solved in places?