Castells defined service economy model and industrial production model to specify industrial transition and development in information society. In particular, the US and UK represented the service economy model, while German and Japan characterized the industrial production model. This typology not only classified advanced economies in the development of network society, but also explained how Asian dragons (Taiwan, South Korea, Hong Kong) rooted in their export-oriented manufacture sectors and network flexibility that embedded in their society and cultures to integrate into global production network in information society. This production model could help examine network node positions of global production among these countries, however it failed to answer why these countries, in specific South Korea and Taiwan, could globally lead innovation competitiveness? In this paper, by employing secondary data from the UN, OECD and World Bank, we try to examine the relationship between industrial development and technology innovation, and further to develop a new typology that taking into account global manufacturing production (value of manufacture exports/GDP, manufacture export/ total products export), foreign direct investment (outward, inward) and innovation (expenditure on R& D, USPTO patents, EPO patens, and triad patents). Specifically, we create 4 indexes (manufacturing index, commercial services index, innovation index, and FDI outward/inward index) to classify 30 countries across the world. The results suggest there are 8 categories that could be identified by these indexes: 1. Manufacture-Oriented, Comprehensive innovation state: Sweden and Swiss. 2. Manufacture-Oriented, Knowledge-based production state: Japan, German, Finland, and Taiwan 3. Manufacture-Oriented, Technical/capital dependent production state: Italy, Singapore, South Korea, Ireland, and China 4. Commerce-Oriented, Technical export state: US, Netherlands 5. Commerce-Oriented, Commerce investment state: UK, Spain, France and Demark 6. Commerce-Oriented, Technical/capital dependent commerce state: Hong Kong, Belgium, Austria, India, and Israel. 7. Commerce-Oriented, Basic commerce export state: Norway, New Zealand and Australia. 8. Technical/capital dependent state: Brazil, Thailand, Philippines, South Africa, and Russia After identified the advantages and disadvantages of Taiwan's industrial development, in sum, this paper discusses the strategic direction for Taiwan's next generation industrial development. The Industrial Economics and Knowledge Center at Industrial Technology Research Institute of Taiwan have foresighted four scenarios for Taiwan's future industrial development: Innovator of soft economy, Value initiator and champion, Pioneer of new life style, and Hub of international network. Based on our comparative results, we conclude value initiator and champion should be our future vision of industrial development. Strategic thinkings of Taiwan's next generation industrial development are suggested in the discussion session.