Is the Dubai debt crisis overblown?

Is the Dubai debt crisis overblown?

Posted on 30. Nov, 2009 by Ali in business

We all have heard of the reports and news about Dubai’s financial disability. It seems that people acted like they did not know about the financial situation of Dubai which was built on debt. I was surprised that analyst did not start reporting about how would Dubai turnout after the world financial crisis as if they have shut the blinds on it. Also seems like everyone was so convinced that Abu Dhabi would ride an Arabic Stallion to go save Dubai if it sinks in Debt.

Other reports have mentioned the fact that Jewish media, which is ALL media, have been organizing the media attacks on Dubai. Israel have been losing the financial and tourism grounds to Dubai due to the more political stability it provides to money people. We all know Dubai had done some major money mistakes and Abu Dhabi will come and save the scene at the end of the day but we have to remember that this was expected and we should have known that from before the world financial crisis.

A tragic romantic . . . Sheikh Mohammed bin Rashid al-Maktoum.

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  • http://blogallalong.com Bashar

    Not really an economist to judge, but I’ve been to Dubai only once in past few years. I thought what they have it’s amazing, and too good to keep up. You just can’t rush an economy that fast. I said Dubai is a timed bomb, and already they’re drown in debts, selling their properties to Abu Dhabi as I heard.

    I’d love to see part 2 of the book “رؤيتي” now ;)

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