Im not sure about how much the dictator part is nessecarily true. For one when singapore was independent it was already wealthier than its neighbours. PAP loves telling us how theyre the best thing on earth, but Im not convinced. LKY did a lot of reforms but where practical he left colonial infrastructure as is. FDI and luck are also a big part of Singapores growth story.
Singapores success was mirrored by china in the 2000s. The trick was free market capitalism with socialist political policies (in both cases). Also singapore has mastered the art of Government linked corporations - something that china copied. From 2000-2012 China probably had one of the least dictatorial governments in its history. Adding a dictator back in the mix has slowed growth although i wonder if thats a symptom of slower growth.
Singapores success was mirrored by china in the 2000s. The trick was free market capitalism with socialist political policies (in both cases). Also singapore has mastered the art of Government linked corporations - something that china copied. From 2000-2012 China probably had one of the least dictatorial governments in its history. Adding a dictator back in the mix has slowed growth although i wonder if thats a symptom of slower growth.