the World Trade Organization, it is worthwhile to reflect on the WTO's contributions to global welfare since its inception … and global economic welfare impacts of GATT/WTO-induced multilateral trade liberalizations. It also touches on the effects …: 283-313 -- Bhagwati, Jagdish N. (1971), 'The Generalized Theory of Distortions and Welfare', pp. 69-90 in Trade, Balance …