Lee Kuan Yew, 87, who led the island from U.K. rule and was premier until 1990, resigned from the cabinet May 14, saying it was time for a younger generation to “carry Singapore forward in a more difficult and complex situation.” The move ended his five-decade presence in government leadership, when he crafted a legacy of encouraging foreign investment, averting corruption and emphasizing discipline, efficiency and interracial harmony.
The decision may increase political dialogue in a nation where opposition parties didn’t contest Lee’s constituency this month, in a sign of his continued sway. Investors may next look for signs of policy change after opposition leaders urged more steps to rein in property-price inflation and temper immigration they said damped wage gains among lower-skilled workers. Full story
