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This paper studies a new frontier in the understanding of International Strategy (IS). To explore it, we propose the analogy of the ecology of firms and places as a way to emphasize that the real problem is the colocation of different places with different types of firms. Locations are in fact the distinctive content of International Business Strategy. We deal with this problem with four different perspectives. First, differences across countries must be addressed with integrative frameworks able to represent the multidimensionality of ‘semiglobalization’, or intermediate states between total localization and total integration. Second, differences in the development of intermediary markets in a particular place influence firm positioning and industry structure in that place, but their impact also crosses different places, and it is endogenous to the ecology of places and firms in a systemic, integrative way that makes …