Financial Times chimes in on Singapore’s economic plunge and its effect on the economy; however, the Lee Kuan Yew quote within actually dates back to July 2008.

The PAP government has long been one of Asia’s most secure. Singapore’s dominant one-party system has set an example for countries such as China, Russia and the Gulf states. Their leaders “are picking up points here and there” about how Singapore can “keep its ruling party in place and run a tight ship, honest and effective”, says Lee Kuan Yew, the city state’s founding father. [in July 2008]

But the economic crisis is putting Singapore’s political system to its severest test since independence in 1965. “Officials appear scared about the public reaction. I’ve never seen them so concerned before,” said a Singapore-based regional political analyst.