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Lawrence Wong to Inherit “Healthy Economy” from PM Lee as Singdollar Surpasses Peers with 40% Advance

SINGAPORE: As Mr Lawrence Wong prepares to become the next Prime Minister of Singapore, following…

Lawrence Wong to Inherit “Healthy Economy” from PM Lee as Singdollar Surpasses Peers with 40% Advance

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Government bonds have also outperformed its global peers by around 16 percentage points.The Business Times reports that since Mr Lee entered office in 2004, the Singapore dollar has risen around 40% against major trading partners’ currencies. That’s more than double the rise of the US dollar over the same period.Mr Lee’s reign has seen Singapore’s economy more than double in size, reaching S$532.3 billion, according to Bloomberg-compiled data. Assets under management also climbed more than eight times over to S$4.9 trillion.Thanks to Mr Lee, Singapore has transformed into a global financial powerhouse and a magnet for top-notch talent. The city-state’s stock market also greatly benefits from the strong local currency.The Straits Times Index, measured in US dollar terms, has outperformed its Southeast Asian neighbours, outshining the MSCI ASEAN Index by 32 percentage points during Mr Lee’s reign.However, it’s not all sunshine and rainbows. 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