A key component of economic globalization is the transnational production of goods and services. Global value chains and global production networks are two related analytical frameworks that have been developed to help understand the organization of such economic activity and its development implications. This chapter briefly reviews the creation of such frameworks and their contribution in terms of understanding the organization and governance of the global economy. We then explore the less-focused on dimensions of spatiality and territoriality, including through examples from research on India’s pharmaceutical and Philippines’ services industries. Current changes in the global economy have raised the stakes for understanding the shifting geographies of global production networks and engaging more closely with their territorial dimensions.