How do these phrases differ?
Do both the phrases give the same meaning, or are they different?
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Short Answer: Different.
Long Answer: It's the difference between a "world that has been industrialized" and "the world of industry."
Without making political or social commentary of any kind, an "industrialized world" typically refers to
whereas the "industrial world" is more like
all the companies that make up "industry," such as, factories, manufacturing and manufacturers, etc.