The Bilateral FTA's Impact On Singapore's Economy

From the GATT to the WTO,the multilateral trading regime has been developed and improved,gradually constructed international trade organization to restrict trade standards and policies among members,having great impact on world economy and the development of different countries.With the development of the tide of regional integration,the multilateral trade within the regional integration organization had also become a form of the world trade system,in parallel with the multilateral trade of the GATT/WTO.However,from the 1990s,because of the stalemates that confronted with multilateral trade negotiations,bilateral FTA came on the stage and became the fashion.Singapore is the country that confronted with the fashion perfectly and that accomplished the most free trade agreements in the world.Singapore is narrow in land area,poor in natural resources,small in the market scale,thus its dependence on the international market and economic resources is quite high.According to the statistics,the total amount of import and export in Singapore is three times more than the GDP total amount.Although Singapore is a city-state,its impressive economic achievements attracted worldwide attention and it ranks the second in 'the most competitive countries in the world' from 2011 to 2016.By studying the development of history,change of industrial structure,the current situation and development of Singapore's bilateral FTA,searching for the data of Singapore's import and export to Japan and China,the paper expects to come to a conclusion about how the bilateral FTAs push the economy.