This understanding of globalisation fits into the set of literature referred to as the ' first wave' and is associated with US truimphalists and business schools theorists. ... According to this view, it makes little sense for America to produce textiles at home when they can be produced at a lower cost in Honduras or China (which unlike Honduras is a major source of American textile imports). Importing textile would benefit America as well as China. ... Last year the Bush administration announced it would give American farmers an extra $175 billion during the next decades. The yearl...

• Word Count: 3797
• Approx Pages: 15
• Grade Level: Undergraduate