The global economy is at the point of maximum danger - By Ambrose Evans- Pritchard
Sure makes you wonder how this Fantasy Land is doing so well.
Pour yourself a TALL ONE before viewing. It will help calm you down.
Let's take a look at the Dubai Timeline
or you can take a look at Dubai's "official" site about its economy at
The Dubai economy enjoys a competitive combination of cost, market and environmental advantages that create an ideal and attractive investment climate for local and expatriate businesses alike. In fact, these advantages not only rank Dubai as the Arabian Gulf’s leading multi-purpose business center and regional hub city, but they place it at the forefront of the globe’s, dynamic and emerging market economies.
Dubai, with its ancient commercial and seafaring traditions, has long been recognized as the Middle East region’s leading trading hub and has emerged as its key re-export center. In more recent years, the Emirate has become a major venue for a number of growing, profitable industries and activities:
• Meetings, conferences, exhibitions
• Corporate regional headquarters
• Regional transport, distribution and logistics center
• Banking, finance and insurance
• Business and industrial consulting
• Information and Communications Technology
• Light and medium manufacturing
This all became possible due to Dubai’s warm, welcoming people, world class facilities and infrastructure and farsighted, open and liberal economic policies. Finally, committed to a progressive vision of itself, keen to diversify its economy and diminish its reliance upon shrinking oil revenues, Dubai has begun to develop into the Arabian Gulf’s premier international business center. Consider the factors that contribute to this ongoing success story.
Amazing what they have accomplished - eh?
It just boggles my mind what can be done when people are motivated by oil and in Dubai's case, the future lack thereof...