ABSTRACT
Globalization has become a major feature of the contemporary world. It marks the modern era and defines the phenomena, relations, systems, values, and concepts of the contemporary human society that are unlikely to be isolated from the knowledge of globalization. Yang Xuedong, an acclaimed Chinese scholar of globalization, has focused on globalization since the 15th century and proposed three phases of globalization process with some variations in terms of the perspective and rationale of periodization. The crystalizing and reshaping phase of globalization lasted from the 1870s to the 1970s. This century saw the progress and the crystallization of globalization as well as its uncertainty phase through the vicissitudes of two World Wars and the Great Depression. The contemporary globalization differs from historical globalization on the technical basis as the former is based on the third technological revolution, while the latter was based on the Industrial Revolution and the second technological revolution.
