ABSTRACT
This chapter examines that something has been lacking in terms of conceptualization, which can form a crucial complement. The conceptual framework regards regions as relational settings, going beyond macro-economic analyses of trade and other kinds of linkages. As the conceptual framework addresses truly 'globalized' trends, the chapter highlights dynamics in different parts of the world and in various fields of industrial activity. The chapter explores that the specific facets of 'industrial transition' are revealed. It suggests an agenda for action that touches upon various 'sore points' of contemporary institutional and spatial imbalances of socio-economic development that require specific attention.
