Singapore was once known as a prosperous and cash-strapped city-state. Today it is a glitzy international destination. It has hosted Taylor Swift concerts and Formula 1 night races. And the country is significantly richer per capita than the United States.
That transformation took place under Lee Hsien Loong, the third prime minister of the Southeast Asian country. He made Singapore even more prosperous by largely following the semi-authoritarian and free-market model pioneered by his father, Lee Kuan Yew, the country’s first leader.
On Wednesday, Singapore had a new leader for the first time in almost twenty years. Lee Hsien Loong, 72, handed over the office to his deputy, Lawrence Wong, 51. Their People’s Action Party (PAP) has ruled Singapore continuously for more than six decades and has achieved astonishing success.
