Singapore is widely admired for its sky-high living standards and efficient civil service, making it a lesson in how to escape poverty in the emerging world. However, the island state of 6 million people now faces three of the world’s greatest challenges: tension between the West and China, an aging population, and climate change. Despite its small size, Singapore’s handling of these problems will be worth watching, as its policies cannot always be easily copied elsewhere.
Singapore’s destiny lies in the hands of a new leader, Lawrence Wong, who will become Prime Minister on May 15th as Lee Hsien Loong steps down. This change in leadership will mark the end of 59 years of rule by the Lee family (with a brief interlude by Goh Chok Tong), with Lee Kuan Yew, the father of the current Prime Minister, having turned the country from a colonial entrepot with racial tensions into a modern metropolis.
Lee Kuan Yew’s formula for success included openness to trade, geopolitical neutrality, and a technocratic government, but his approach also involved suppressing opponents and restricting free speech. Despite these criticisms, Singapore’s GDP per person is an astonishing $88,000, showcasing its economic prosperity and success.