Passage 2
On a conservative estimate the Uruguay round would permanently raise global welfare by more than $100 billion a year, spur economic growth everywhere, and extend competition to hitherto sheltered, and therefore backward, parts of all eco

Passage 2
On a conservative estimate the Uruguay round would permanently raise global welfare by more than $100 billion a year, spur economic growth everywhere, and extend competition to hitherto sheltered, and therefore backward, parts of all economies. By any standards, it would be a hugely valuable achievement.
Such opportunities come too rarely to be squandered. 【Yet this one still may be】.
340.Why would an economy be backward once it is “sheltered”?

When one country's economy is "shelteredand with little competitionlsg it's most difficult for them to make good use of their absolute and comparatave advantages, leaving the country far behind in economic development.