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Singapore’s economy: what can we learn from its successes?

June 14, 2024

Via: MoneyWeek
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While Britain may be about to get its sixth prime minister since 2016, Lawrence Wong, a 51-year-old US-trained economist, was last month sworn in as Singapore’s fourth prime minister since 1965, when the city-state separated from Malaysia and became independent.

Wong has been finance minister since 2021 and succeeded Lee Hsien Loong, who had led the island nation since 2004. Wong’s succession was carefully choreographed by the ruling People’s Action Party, which has governed Singapore since 1959. He’s the first PM to be born after independence, and (unlike his predecessor) is not part of the political dynasty founded by Lee Kuan Yew – the founding father of modern Singapore, who served as PM from 1959 to 1990.

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