I'd trust my next door neighbor to be President more than someone who actually wants to be President.
Politicians are becoming like a caste, much too similar to each other and with very little exposure to real life.
The chance of a government staying in government for a long time also means that governments have to think long-term because they might still be in government when the consequences come around. In the US system the optimal strategy is to do things that look good in the short term but backfire as soon as your term limit expires. That way you look good, and the next president (who's with near certainty from the opposition party) looks bad.
I'd be more in favor of passing an age limit, but I'm well aware that that has no chance of happening.
Singapore's consistent ranking near the top is always hilarious to me!
People elected them and their party, their party had chosen them for the position. It's not like they forced anyone to put them there.
Term limits in democracies make very little sense when they affect a President or other directly elected positions of great personal power
They make no sense for chancellors or prime ministers who in any case are going to mostly be controlled by the parliament
Democracies benefit from change. Indeed I would argue that cadre change is their kill app. But it must be happening.
The same top politician will employ the same ministers, consultants etc., thus slowly creating an ossifying structure that aggregates a lot of mistakes of the same type. It is a process that reminds me of inbreeding in biology. Small pathologies slowly become more pronounced.
As we live longer and longer, we run into a risk that our Senates etc. will turn into gerontocracies of 80+ year old people and that a typical intern will be fifty.