Timor-Leste is a new, small, and poor “petrostate” with a national budget that relies heavily on revenue from offshore fossil extraction. The country's 20-year history of independence has been shaped by its management of economic resources, particularly fossil fuels, as well as its legacy of independence struggle and international standing as a successful intervention by the international community, especially the United Nations. Although its democratic credentials have been firmly established through fair, transparent, and regular elections, recent elections (most recently in May 2023) have continued to elect leaders from the "75 generation" (those who fought against Indonesian occupation), which risks the political leadership becoming sclerotic and undermines the aspirations of the growing youth population. Additionally, the shifting geopolitical landscape as a result of the intensifying US-China rivalry in the region is likely to pressure Timor-Leste to take a stand, even if its likely accession to ASEAN membership may shield it from such pressure.