Globalization phenomenon is analyzed. It has shown that global, world-scale processes are no more a sum of changes occurring within separate national states but those processes have their own logic of development. As a result we can see an explosive increase of interdependence between component parts of world community and world economy and this processes of interdependence is described with wide-spread term – “globalization”. Apart from other meanings globalization as convergence of conditions for economic practice and as a formation of common world economic space assumes that market economy model is becoming universal phenomenon globally. Another universal and specific feature of globalization is openness of various economic systems. China is becoming now a country with rapidly forming open market economy. Against this background China’s place and China’s role are being transformed as well as China’s relations with key world actors, including Russia.