Let $M$ and $N$ be smooth manifolds. The cartesian product $M\times N$ has a natural manifold structure. Moreover, $M$ and $N$ can be seen as locally ringed spaces over $\operatorname{Spec}\mathbb{R}$ and the fiber product (in this category) $M\times_{\operatorname{Spec}\mathbb{R}}N$ always exists.
I wonder if both products coincide or not. (However, I know that they don't if we take the fiber product on the category of ringed spaces. This is because, in this case, the structure sheaf of the product is the tensor product of the structure sheaves.)
What about more general limits? And other kinds of manifolds?