Singapore and the new regionalism: Bilateral trade linkages with Japan and the US

Abstract

Free Trade Areas (FTAs) have recently become an integral part of Singapore trade policy. This paper discusses the reasons behind Singapore's recent embracement of 'new regionalism' with particular reference to the proposals to form FTAs with Japan and the US. The paper goes on to examine various aspects of Singapore's trade linkages with the two economic superpowers in some detail. Popular discussion of FTAs gives one the appearance that such a trade policy is entirely benign. The paper sounds a cautionary note, highlighting some reasons to be concerned with Singapore's recent embracement of the 'new regionalism'.