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The future of free trade agreements: a Singapore perspective

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  • Xiaoping Chen

    (Nanyang Technological University)

Abstract

This paper discusses the potential shortcomings of existing free trade agreements and the desired elements of future free trade agreements in response to some new global economic structure changes. We present our discussion based on the experience of Singapore. We highlight that future free trade agreements should be more comprehensive and try to address the following key challenges: eliminating non-tariff trade barriers and limit potential new restrictions on trade; lower the trade policy uncertainty; protect intellectual property in a international setting to encourage innovation; managing immigration and FDI policies in a coordinated way across countries; improve regional and global production integration given the nature of global production networks.

Suggested Citation

  • Xiaoping Chen, 2019. "The future of free trade agreements: a Singapore perspective," International Journal of Economic Policy Studies, Springer, vol. 13(1), pages 259-271, January.
    • Handle: RePEc:spr:ijoeps:v:13:y:2019:i:1:d:10.1007_s42495-018-0012-5
    DOI: 10.1007/s42495-018-0012-5
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    References listed on IDEAS

    as
    1. Xiaoping Chen & Yuchen Shao, 2020. "Product life‐cycle, knowledge capital, and comparative advantage," Review of International Economics, Wiley Blackwell, vol. 28(1), pages 252-278, February.
    2. Emily J. Blanchard & Chad P. Bown & Robert C. Johnson, 2016. "Global Supply Chains and Trade Policy," NBER Working Papers 21883, National Bureau of Economic Research, Inc.
    3. Kyle Handley & Nuno Limão, 2018. "Policy Uncertainty, Trade, and Welfare: Theory and Evidence for China and the United States," World Scientific Book Chapters, in: Policy Externalities and International Trade Agreements, chapter 5, pages 123-175, World Scientific Publishing Co. Pte. Ltd..
    4. David H. Romer & Jeffrey A. Frankel, 1999. "Does Trade Cause Growth?," American Economic Review, American Economic Association, vol. 89(3), pages 379-399, June.
    5. Robert C. Johnson & Guillermo Noguera, 2017. "A Portrait of Trade in Value-Added over Four Decades," The Review of Economics and Statistics, MIT Press, vol. 99(5), pages 896-911, December.
    6. Acemoglu, Daron & Autor, David, 2011. "Skills, Tasks and Technologies: Implications for Employment and Earnings," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 4, chapter 12, pages 1043-1171, Elsevier.
    7. Peter Schott & Justin Pierce & Georg Schaur & Sebastian Heise, 2017. "Trade Policy Uncertainty and the Structure of Supply Chains," 2017 Meeting Papers 788, Society for Economic Dynamics.
    8. Johnson, Robert C. & Noguera, Guillermo, 2012. "Accounting for intermediates: Production sharing and trade in value added," Journal of International Economics, Elsevier, vol. 86(2), pages 224-236.
    9. Xiaoping Chen & Yuchen Shao, 2017. "Trade policies for a small open economy: The case of Singapore," The World Economy, Wiley Blackwell, vol. 40(11), pages 2500-2511, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Free trade agreement; Anti-globalization sentiment; Non-tariff barriers; Uncertainty; Intellectual property rights; Global value chain;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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