Good news, no fleeing of capital and foreign investors!

When news of Heng Swee Kiat’s collapse in a cabinet meeting hit the streets, there must be fear of a fleeing of foreign capital from the island. This rumour or line of thought has been speculated for several decades to frighten the Singaporeans, that stability of a one party, one man govt is the key to Singapore’s success. Now that the one man is no longer around, it is the composition of the one party that matters. And the composition of the one party actually is about a few men countable by the fingers in one hand. And Heng Swee Kiat is one of the fingers, touted as the future PM.

Heng Swee Kiat’s collapse may send fears to some that it is a sign that Singapore may be collapsing or the future is collapsing. So foreigners, those from the first world, would be packing their bags and businesses and running away. There is no fear from those of the third world as Singapore is still too good for them than their third world homeland. They die die will stay.

Nothing happens. No one is running away. Let me offer two possible reasons. The foreigners and their investments did not see anything fearsome to want to run away. Two, there are very few from the first world. Most of the foreign investors and investments are from the third world, where else to run to?

Oh, a third point, Singapore is now quite stable. It is no longer dependable on one man or one party to continue to grow and prosper. The country is stable enough to withstand the loss of the one man or the one party and its constituent key members.

This is the good news. Singapore will not be shaken just because of the loss of one man or one party. Singapore will not be turned into a third world country just because one opposition candidate gets elected into Parliament. No foreign investor will panic just because Chee Soon Juan would to get into Parliament.

Singapore is safe. The govt has done a good job to ensure that the country will continue to prosper with or without one man or one party.  Thank you very much. This is like a corporation not depending on an indispensable CEO and would collapse if the CEO is dead. I think my conclusion is good for Singaporeans. A country with a stable and sound system that would not be shaken and fell like a pack of cards when one man or one key minister suffered a stroke. I don’t think the situation would be different if it was not Heng Swee Kiat but someone else, like Tharman, Chee Hian or Hsien Loong.

The system will continue to run as if nothing had happened. The island would still be here. The property prices would not fall, and no one’s daughter or wife will become foreign maid. Singapore has passed its second durability test.