Singapore’s economic growth since gaining independence nearly 60 years ago has made it one of the wealthiest countries in the world, with a GDP per person of around $88,000. However, as globalization faces increasing scrutiny and skepticism, Singapore must balance its domestic politics with its global reputation.
Lawrence Wong, Singapore’s incoming prime minister, acknowledges the shifting global landscape and the challenges that lie ahead. He believes that established norms are changing and a new order is yet to be fully established, making the upcoming years potentially tumultuous. Despite its economic success and global status, Singapore’s leaders are aware of the need to adapt to the evolving world order and address the concerns of its citizens.
Navigating these challenges will require thoughtful leadership and strategic decision-making to ensure that Singapore remains a beacon of prosperity and progress in the years to come. The country must find a way to maintain its position as a global city while addressing the shifting political and economic dynamics of the world.
