ABSTRACT
This chapter explores how the Association of Southeast Asian Nations (ASEAN) in general, and Singapore in particular, fit the emerging trade paradigm in Asia, in the presence of China’s size, dominance and role. The 1997 financial crisis as an event instantaneously fused the developmental paths of ASEAN and China more than geograph 1 and geoeconomics, while geopolitical issues are beyond the scope of this chapter. 2 It is not a mere empirical comparison between China and Singapore, but the chapter suggests that Singapore as a more agile city-state in ASEAN can facilitate as China works out its trade relationships with the rest of Asia. Singapore is a pioneer in bilateral free trade agreements (FTAs) morphing into cross-regional FTAs (CRTAs) while engaged in intra-regional FTAs (RTAs). 3 The chapter offers some explicit policy implications in the evolving trade environment from Singapore’s case. Singapore’s two-pronged foreign economic policy encompasses FTAs for trade connectivity and market access to complement and supplement its reinvented Singapore Inc 4 model comprising more privatized state-owned and/or government-linked companies. Both structural and regulatory reforms enhance Singapore Inc’s international competitiveness as much as they enable Singapore-based companies and individuals to utilize the FTA network to venture abroad.
