Singapore is a shining example of how to overcome poverty in the developing world, with its impeccable living standards and efficient civil service. However, the city-state of 6 million people now faces three formidable challenges: the tension between the West and China, an aging population, and climate change. While its small size limits its ability to copy policies elsewhere, Singapore’s approach to these problems will be closely watched.
As Singapore prepares for its next phase of leadership, Prime Minister Lee Hsien Loong steps down on May 15th, paving the way for Lawrence Wong to take his place as the new head of state. This marks the end of 59 years of rule by the Lee family (with a brief interlude by Goh Chok Tong). Under Lee Kuan Yew’s leadership, Singapore transformed from a colonial port with racial tensions into a modern metropolis. His formula for success included openness to trade, geopolitical neutrality, and a technocratic government. However, this approach also involved suppression of opponents and restrictions on free speech. Despite these criticisms, Singapore’s GDP per capita remains an astonishing $88,000, demonstrating its economic prosperity and success.
