Singapore sticks to leadership script as it balances interests

Singapore’s political, economic and social stability and place in the world are little affected when a new prime minister takes office. The ruling People’s Action Party’s choosing of Finance Minister Lawrence Wong to take over from Lee Hsien Loong follows a well-scripted path under which a successor is chosen well in advance of a leader stepping down. To ensure a gradual and smooth transfer of power, Wong is likely to soon be elevated to the deputy’s job and when determined to have gained experience, be handed the reins of leadership. It is a clear-minded approach, particularly with the island nation and region facing a host of pressures including those from China and the United States to choose sides as they vie for strategic advantage.

Political predictability has become a trademark for Singapore, making it popular for foreign companies and investors. The party has won every election since independence from Britain in 1959 and the country has only had three prime ministers. That stability has not only ensured continuity of policies for steady development and growth, but also enabled the creation of a system for a smooth transition of leadership. Lee, 70, has been premier since 2004 and for some time had been planning to hand over to a successor. But finding the right person had for the first time in the country’s history been problematic, with the first choice last year deciding against taking the job.

Senior party members, in a process of consensus, last week ended speculation and announced the next leader would be Wong. When he will take the job is dictated by circumstances; uncertainty abounds as a result of the pandemic, Russia’s war in Ukraine and its impact on the global economy, energy resources and food, and the rivalry between Washington and Beijing. The coronavirus deterred Lee from retiring and the next general election is scheduled for 2025.

Singapore PM says will ‘decide later’ when to hand power to Lawrence Wong

But Wong, 49, has firm grounding. During 14 years in the public service, he held top posts in the finance and health ministries and was chosen to co-chair the task force on the pandemic. He knows both the US and China, having gone to university in the former and worked with top American and Chinese officials. A former minister-in-charge of a key project with Tianjin, he presently jointly heads Singapore’s cooperation council with Shanghai. As the rivalry between Beijing and Washington drives greater assertiveness in Southeast Asia, such understanding is essential in walking the tightrope of balancing interests while not choosing sides.

Singapore, like Hong Kong, is a highly networked trading hub with important connections to China and the West. It seeks opportunities from both. Whoever holds leadership has to be able to balance and benefit, while maintaining good relations.