Singapore: Global Metropolis Against New Challenges
For many reasons, Singapore is an exceptional country, sometimes referred to as “a piece of the West in Asia”, a place where the West meets with the East or as “Asian Switzerland”. Currently, the city-state can boast of great achievements, including the status of a global metropolis – the center of business, trade, maritime and air transport, finance, arbitration and tourism. For a long time, it has been at the top positions in global economic rankings, including the GDP per capita. It remains one of the most competitive economies in the world. In 2015, the city-state celebrated the 50th anniversary of independence, which was an opportunity to recall the key role played by Lee Kuan Yew, the founder of independence, the current economic strength and significant position of Singapore in the international arena. The principle of an open economy, which Singapore has been following from the beginning, was a key strategy for the development of modern and competitive industries and leverage to raise Singapore’s living standards to the highest world level. In its short history, the city-state faced challenges as it is now facing new internal (the question of maintaining stability after the loss of leader and strategist, such as Lee Kuan Yew) and the external challenges (transformation of the global balance of power, accommodating China’s rise in power, a change in the paradigm of the American administration’s trade policy under President D. Trump).
The aim of the article is to present these challenges that the Singaporeans – Government and Society – will have to solve in order to maintain economic growth, high standards of living and high international position in the post-Lee Kuan Yew era.