industrialisation, and the large accumulation of received foreign direct investments, foreign-exchange reserves, and assets held by sovereign wealth funds. A highly developed country, it is tied at 12th on the UN Human Development Index and has the second-highest GDP per capita (PPP) in the world. Identified as a tax haven, Singapore is the only country in Asia with a AAA sovereign credit rating from all major rating agencies. It is a major aviation, financial, and maritime shipping hub, and has consistently been ranked as one of the most expensive cities to live in for expatriates and foreign workers. Singapore is placed highly in key social indicators: education, healthcare, quality of life, personal safety, infrastructure, and housing, with a home-ownership rate of 88 percent. Singaporeans enjoy one of the longest life expectancies, fastest Internet connection speeds, lowest infant mortality rates, and lowest levels of corruption in the world. Singapore is a unitary parliamentary republic with a Westminster system of unicameral parliamentary government, and its legal system is based on common law. Although the country is a multi-party democracy with free elections, the government under the People's Action Party (PAP) wields significant control and dominance over politics and society. The PAP has governed the country continuously since full internal self-government was achieved in 1959, with 83 out of 104 seats in Parliament as of the 2020 general election. One of the five founding members of ASEAN, Singapore is also the headquarters of the Asia-Pacific Economic Cooperation (APEC) Secretariat, the Pacific Economic Cooperation Council (PECC) Secretariat, and is the host city of many international conferences and events. Singapore is also a member of the United Nations (UN), World Trade Organization (WTO), East Asia Summit (EAS), Non-Aligned Movement (NAM), and the Commonwealth of Nations. Name and etymology The English name of "Singapore" is an anglicisation of the native Malay name for the country, Singapura (), which was in turn derived from the Sanskrit word for "lion city" (Sanskrit: सिंहपुर; romanised: Siṃhapura; Brahmi: 𑀲𑀺𑀁𑀳𑀧𑀼𑀭; literally "lion city"; siṃha means "lion", pura means "city" or "fortress"). A Chinese account from the third century referred to a place as Pú Luó Zhōng (), which sounds like Malay for "island at the end of a peninsula." Early references to the name Temasek (or Tumasik) are found in the Nagarakretagama, a Javanese eulogy written in 1365, and a Vietnamese source from the same time period. The name possibly means