This article focuses on education in developing countries in the context of globalization and with specific reference to the Caribbean. It examines the concept of globalization and related concepts and positions developing countries within this context. It explores the possibility of the creation of a third space where the local and the global can co-mingle and new understandings can emerge. The article argues that although the global/local interface constitutes a zone of tension, it can, in the realm of education, become an area of creative opportunity. It outlines some parameters that can guide the way in which the third space can be shaped when Caribbean and other developing countries are faced with the challenge of accommodating external ideas into local education.