Singapore’s Prime Minister Lee Hsien Loong will step down next month after nearly 20 years in power, handing over to his deputy in what will be only the third leadership transition in the Asian financial hub’s modern history.
Lawrence Wong, deputy prime minister and finance minister, will become Singapore’s leader on May 15 after being named heir apparent in 2022 as part of the ruling People’s Action party’s long-standing succession plan.
The departure of Lee, the son of Singapore’s founding leader Lee Kuan Yew, also raises expectations for a consequential general election that could be held as soon as this year.
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