Singapore, a nation of just 6 million people, is facing three significant challenges that could shape its future: tensions with the West and China, an aging population, and climate change. Despite its small size and unique policies, the way Singapore addresses these challenges will be closely watched by developing nations looking to escape poverty.
One key aspect that needs to be addressed is the need for more open politics. As Lawrence Wong prepares to take over as prime minister, following in the footsteps of his predecessor Lee Hsien Loong, it marks the end of almost six decades of rule by the Lee family. Although known for his authoritarian methods, Lee Kuan Yew’s policies have led to an astonishing GDP per person of $88,000 in Singapore. To maintain this level of prosperity, it’s essential that Singapore embraces more open politics and continues to adapt to the changing global landscape.