How Capitalist Is Singapore Really?

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Singapore is often held up as one of the most capitalistic countries in the world. Yet the Singaporean state owns 90 percent of the country's land, 80 percent of the housing, 20 state-owned enterprises whose total value is equal to 37 percent of the Singaporean stock market, and a sovereign wealth fund with assets totaling 60 percent of GDP. This is a level of state ownership that is completely unimaginable in the US.