Singapore is ranked #2 in the world for economic freedom.
Arguably, their economic freedom would diminish if political freedom and other individual rights were permitted.
USA is #12, BTW.
http://www.heritage.org/index/ranking
If one just wants to see it as a business center and not as a place to live, I guess so.
Forget their (in)famous canings, they were badgering Singaporeans to marry and other stuff that even Michelle Obama never thought of.