ABSTRACT
At the present time, the development of an institutional order of an integrated world market has reached a critical phase. The failure of the World Trade Organization (WTO) to come to an agreement in the Cancn round in 2003 has thwarted the institutional integration of world markets. On the political arena the process of trade liberalisation is experiencing a deep crisis following the failure of the WTO round in Cancn. Both in developing and developed countries, the debate on economic policy does scarcely refer to the win-win potentials inherent in a liberalised word trade. In the world of theory, world trade enables countries to specialise and realise economies of scale in an all-embracing manner. Established economic theories maintain that the process of globalisation gives rise to advantages for all parties. All pathways towards greater justice in globalisation are accompanied by knowledge acquisition and learning processes.
