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A "phase switch" is always a polarity inverter. With a balanced circuit, the two signals that are opposite in polarity are known as the two "phases". The switch swaps these two phase around, achieving a reversal in polarity.
I think of phases such as phases of the moon. It's about the timing of a cycle, and you can change phase relationships by delaying one of the signals. A polarity switch never introduces a delay - it just flips negative for positive.
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