  In this article a non--technical survey is given of the present status of
Axiomatic Quantum Field Theory and interesting future directions of this
approach are outlined. The topics covered are the universal structure of the
local algebras of observables, their relation to the underlying fields and the
significance of their relative positions. Moreover, the physical interpretation
of the theory is discussed with emphasis on problems appearing in gauge
theories, such as the revision of the particle concept, the determination of
symmetries and statistics from the superselection structure, the analysis of
the short distance properties and the specific features of relativistic thermal
states. Some problems appearing in quantum field theory on curved spacetimes
are also briefly mentioned.
  (Talk given at Ringberg Symposium on Quantum Field Theory, Ringberg Castle,
June 1998)
