Firms everywhere are increasingly embedded in multidimensional relations, often crucially related to knowledge and technology transfers, and that occur at a local and global level. They may take the form of clusters, networks, inter-firm partnerships or value and production chains. The book examines the thesis that global ties do not exclude but need and complement local ties. Presenting a series of case studies using original research, the books evidence ranges geographically from China, Taiwan and Thailand, through Italy and the UK to Mexico and the Latin American countries. The impressive range of contributors raise issues such as: does globalization hinder the developments of small and medium sized enterprises in the third world? Can local clusters of small business benefit from linking up with global firms and organizations? Can local markets offer an alternative to global markets? The critical and rigorous approach that this book offers will make it a important read for graduate students and researchers in industrial organization, development economics and small business economics. Policy-makers and practitioners should also take heed of the lessons to be learnt from this imp