Globalisation is the growing relations of international markets and it involves the economic activity in the production of goods and services among countries. It involves aspects such as growth and productivity, employment and skills wages and unequal distribution in wages both internationally as within a country. Hence, the belief that globalisation leads to growth is present all over both the works of Friedman and Norberg, but can be illustrated by a quote from Friedman: 'Economic development in terms of globalisation happened when we connected New York, New Mexico and California. It happened when we connected Western Europe, America and Japan. And it will happen when we connect India and China with America, Europe and Japan' (Friedman, 2007, p. 277). .Simultaneously, globalisation is used by some scholars to refer to the efforts of the International Monetary Fund (IMF), the World Bank and others in order to create a global free market for goods, capital, labour and services. This political project, whilst being significant and potentially damaging for a lot of poorer nations is really a means of profit rendering for multinational companies (IMF, 2000). On that same line Wallerstein (2000, p. 15) argues that globalisation works in such a way that the countries of the core generally tend to gain advantages on the expense of nations in the periphery. In other words globalisation has not only created a more competitive market, but it has also contributed to higher level of impoverishment, inequalities in distribution of incomes and the weakening of institutions and social support systems. For example, the pace of economic progress has been uneven in time and the conversion of the old systems as one independent nation has left many people behind due to variations in income per head between countries and regions. (Steeten, 2001, p. 25). Hence, to avoid the negative effects of globalisation certain factors are to be taken into consideration, for example it is necessary to have a global restriction policy in practice to enable international policies to work aside with national ones without having global bureaucracy as a barrier. Another important issue which will be discussed in relation to Nike as a multinational company, is the world trade organizations agreement on safeguards which as incentive could include further trade restrictions such as labour and ethical principles (Sholte, 2005, p. 4)
IMPACT OF GLOBALISATION ON THE AMERICAN ECONOMY
Hitherto, the United States can be seen today as a major player with regards to the international and global economy. It can be regarded as a hegemonic power which acts as the world's dominant economic and political actor. The ideology and traditional values it holds with respect to trade are represented in terms of economic evolution which is of a liberal ideology, holding strong beliefs in the idea of free trade and free markets (Borts & Stein, 1966, p. 164). Conversely, during the 1970's and 80's the rate of the US economy was falling behind other nations such as Japan and countries within Western Europe. However, from the 1990's onwards American companies began to flourish even at times of national distress such as when the economy was facing a number of challenges during the occurrence of the 9/11 and hurricane Katrina (Saunders, 1991, para. 4). Yet, the concept of globalisation can be seen to have originated under the ideologies and traditions of the western world (Dahl, 1971, p. 2). It can be seen within American culture and society that public opinion towards the concept of globalisation has a mixture of positive and negative effects. Positive effects come from such aspects like the ability to manufacture using cheap labour in other countries which benefits companies as their goods are produced in countries with low employment costs. A negative effect which arises from this problem includes the fact that there is less reliance on the...