Singapore, a small island nation of 6 million people, is known for its high living standards and efficient civil service. It serves as a model for developing nations looking to escape poverty. However, the country is facing three major challenges that will shape its future: tensions between the West and China, an aging population, and climate change.
Despite its unique policies and small size, Singapore’s response to these challenges will be closely watched. One key aspect that needs to be addressed is the need for more open politics. The country’s new leader, Lawrence Wong, will soon take over as prime minister, following the stepping down of Lee Hsien Loong. This marks the end of almost six decades of rule by the Lee family, with Lee Kuan Yew being the founding father who transformed Singapore into a prosperous metropolis. Despite his authoritarian methods, Lee Kuan Yew’s policies have led to an astonishing GDP per person of $88,000 in Singapore.