本文认为,每一次经济全球化浪潮,其实质是一次资本扩张,目前正在进行的经济全球化属于第三次浪潮。在第三次资本扩张中无形资本已成为扩张的主导力量,这是第三次资本扩张不同于以往两次的特点。作为一种新的资本形式,无形资本在对外扩张中具有超前性、渐进性、辐射性、逆向选择性、偏单向性的特点。从目前的态势看,发达国家对发展中国家的无形资本扩张处于绝对优势地位。 This paper argues that in every wave of economic globalization, its essence is a capital expansion. The ongoing economic globalization is the third wave. In the third capital expansion intangible capital has become the dominant force for expansion, which is the third time the capital expansion is different from the previous two characteristics. As a new form of capital, intangible capital is characterized by advancedness, gradualness, radiation, negative selectivity and partial unilateralism in its outward expansion. Judging from the current situation, the developed countries are absolutely in a dominant position in developing countries for their intangible capital expansion.