Below is a very informative graphic from The Economist outlining global trade. Interesting to note the dependence on trade of Singapore and Hong Kong.
They make the point that the number of regional trade agreements has risen from 70 in 1990 to just under 300 today. The Trans-Pacific Partnership (TPP) would link 11 economies of the Pacific rim—including Japan and Singapore—with America. These 12 countries together account for 40% of world GDP and one-third of trade. Meanwhile, the Transatlantic Trade and Investment Partnership (TTIP) is an ambitious planned trade deal between America and the EU.