(July 8): The pandemic is proving the ultimate test for Singapore, the tiny city-state that has a reputation of reinventing itself during times of crises.
Dismissed in the past as just a “little red dot” on the map, dwarfed by larger neighbours like Malaysia and Indonesia, and with no natural resources to speak of, Singapore has nonetheless transformed itself into one of the richest and most competitive economies in the world. The island nation of almost 6 million people punches above its weight as a leading international finance hub.
As Singapore’s leaders now grapple with what’s turning out to be its worst slump since independence in 1965, the ruling party is looking to extend its mandate in Friday’s election to help reinvent the economy once again. They’re already positioning for a post-Covid world with planned investment in health and biomedical sciences, climate change and artificial intelligence.