The 3 phases of globalization are defined by the unique set of political, legal, social and economic systems that characterize each phase. Which phase is characterized by regulated capitalism characterized in US by protectionism of US industries, such as the sugar industry that was protected domestically with trade taxes on imports (tariffs) and subsidies (government support to industry) to sugar growers. The political system was dominated by the Cold War. Group of answer choices Phase 1 1870s-1940s Phase 2 late 1930s-1970s Phase 3 1970s-2019/2020 None of above