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The political crisis dents Singapore's reputation for clean and honest governance, experts say.

Singapore could turn a governance crisis into an opportunity. Its transport minister S. Iswaran and Ong Beng Seng, the property billionaire credited with bringing Formula One to the city, were arrested and released on bail last week. The rare high-profile probe involving a public official by the hub’s anti-graft agency is a timely test of the Asian centre’s willingness to act tough on corruption.

The world renowned magazine "The Economist" on its July 4th 2023 issue, published an article entitled "Why China should be friendlier to its neighbors". The article categorized China’s neighbors into three broad camps : fragile or failing states (Afghanistan, Laos, Myanmar, Nepal, North Korea and Pakistan), frenemies that have close ties but fear Chinese domination (Mongolia, Russia and Central Asian states), and places with either defense treaties with America or military ties to it (India, Japan, the Philippines, South Korea, Taiwan and Vietnam).

Ong Beng Seng’s company says the billionaire is cooperating with authorities in rare high-profile investigation.

The E.U. 2023 Rule of Law report published Friday found systemic concerns remain in some member states while 65% of last years recommendations have been fully or partially addressed.