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This paper is a spatial (urban and territorial) approach to high speed rail implications for cities, with focus on recent research and developments. The current situation and future challenges of HSR in Europe are analyzed taking into consideration three main levels of analysis: inter-city relationships, wider spatial implications and the role of HSR stations. The paper reviews the different approaches in two world powers, China and USA, considering their HSR territorial strategies and station location rationale. This dual review, based on European territorial experience, is useful as a reflection on HSR developments in the near future.