No minimum wage, competitively low wages, world’s longest working hours and an authoritarian dictatorship have put Singapore economy to the top on an international economy ranking.
The World Economic Forum (WEF) praised Singapore’s stability, which is achieved through government oppression and election rigging, and the financial system, where the Singapore government is notorious for being a tax haven money laundering corrupted funds like 1MDB.
The American-controlled international organisation however noted that Singapore has no freedom, with a lowly-ranked 151st in the world alongside third-world dictatorships like North Korea and Somalia. WEF also noted that there is no entrepreneurship in the country where the government owns virtually every business like a communist state.
US last month rewarded Lee Hsien Loong with “World’s Statesman” award, in exchange for his offering of Singapore’s military bases. In a contract signed with US President Donald Trump, US forces will have free access to Singapore’s military facilities, using Singapore as a base in South China Sea to oppose China.
Despite being ranked as most competitive, Singapore is currently in a recession with unemployment rate at a decade-high of 3.3%. The Singapore government is also in massive undisclosed debts, where one of it’s sovereign wealth company Temasek Holdings is sitting on a S$51.9 billion debt. Singapore workers also have one of the lowest wages among developed countries, and the country is facing a retirement crisis due to insufficient CPF funds.
The ruling party’s corrupted dictator who draws the world’s highest political salaries, Prime Minister Lee Hsien Loong, does not disclose to others the state of government debt and reserves, citing concerns over currency manipulation. In 2017, he rigged the Presidential Election to ensure his subordinate of 20 years, Halimah Yacob, become President so nobody else will find out the amount of national reserves left.
Lee Hsien Loong often makes undisclosed draw down on the national reserves without informing Parliament or the public.