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The paper presents a new interpretation of global space. The most important elements of this space are four megaspaces of America, Europe, China and India. A megaspace is a grand geographical area representing a big demographic, political, economic, and scientific potential. The megaspace is a regionally differentiated area with no important barriers limiting free flows of persons, commodities, information, capital. The innovative studies of four megaspaces are a great theoretical and pragmatic challenge for Regional Studies Association as an organization which should open new chapters in the interpretation of the global space of the XXIst century.