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Singapore is richer than US, UK or France per capital. Lawrence Wong’s challenge as PM will be maintaining that

The ascendant financial hub at the crossroads of global trade has in a relatively short period of time, in historical terms, transformed itself from a colonial trading port to the wealthiest nation in Asia – and one of the richest in the world.

The tiny island outpost has moved deliberately from being a manufacturing powerhouse to financial services giant and now tourism and tech.

Singapore has long been the prime example of how small countries can seek a pathway to rapid growth and development, particularly if they have limited natural resources.

Part of its success as a financial centre has been its light regulatory touch and comparatively low corporate tax rates. More recently, the Singapore government has sought to further fuel its growth by attracting wealthy residents – and their assets – with casinos, luxury hotels and the attendant nightlife that make the city state a destination.

But harder than getting to the top is staying there. Singapore’s restrictions on civil liberties now apply to a nation that has become more diverse and less willing to accept the status quo.