Visitors to Singapore can’t help being dazzled by Asia’s only global city. Marina Bay. Sentosa Island. Botanical Gardens. Temples. Museums. Casinos. Luxury hotels. Shopping on Orchard Road and lots more.
But scratching below the surface reveals a system struggling for survival.
Singapore was not born to authoritarian government led by Lee Kuan Yew, despite his now almost divine status. Some argue that the late 1950s and early 1960s was a golden era for Singaporean democracy.
Many of the foundations of Singapore’s current society, like the Central Provident Fund and the Housing & Development Board, were established then.
The end of an era
This period came to an abrupt end in 1963 with “Operation Coldstore” by which Lee eliminated his political opposition. Over 100 members of Barisan Sosialis were arrested and detained on the false pretext that they were part of a communist conspiracy.
Singapore’s 1965 expulsion from a two-year union with Malaysia was an emotional shock for Lee Kuan Yew and his People’s Action Party (PAP). But once Lee got over that, he led the city state on a miraculous journey of authoritarian capitalism.
In the space of four decades, Singapore’s economy has risen to become one of the world’s most advanced, with virtually the highest GDP per capita in Asia, if not the world. However, despite its flashy hard infrastructure, soft infrastructure is a weak point. This shows up in poor creativity and innovation performance.
Several key ingredients makeup the Singapore policy cocktail.
Open trade and investment. Education and a strong work ethic. Migrants for both high skilled and low skilled jobs, interestingly, Singaporeans typically slot into the middle of the labor market in their home country. And a strong guiding hand of government. Singapore might practice the rule of law, but only one party determines the law.
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