SingaporeAugust 2012 | Ratings Update
Although Singapore's ruling People's Action Party (PAP) suffered a rebuke of its recent policies in 2011's general elections, we believe that the party will retain its dominance in parliament over the medium term in view of a weak and fragmented opposition. Furthermore, the party has shown that it is capable of adjusting its policies in order to adapt to evolving public sentiment, and, as such, we expect to see continued tightening of immigration. Still, as long as the PAP is in power, we hold that the government is unlikely to embrace any measures that will seriously inhibit the city-state's enviable business environment.
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