dubai

In Dubai shock, debt is a problem that crisis has raised fears of return to dark days, as financial markets have declined in all parts of the world, and Friday, but analysts played down the risk in the long term.

Asia, Europe and the United States stopped because of the possibility of bad debt in the market for the global economy after the shock of the request to create a new worry in Dubai withholding of loan repayment is important. Investors were holding their breath for Hill Friday decided that once the Gulf emirate’s fast new global economy are at risk of sudden announcement, which is the collapse of Lehman Brothers take.

In September 2008 the U.S. investment bank’s death sent shock waves across the world, and most painful phase of the global financial crisis started early. But analysts fear that the Dubai government’s investment vehicle Dubai World play presented by the six-month period, which put an end to the global economy and the fragile recovery of the loan request to stop payment.

Dubai is a financial black hole that this tragedy not only for their reputation has hit a setback, but for the United Arab Emirates – and then as one of the Arabian Gulf. One as yet to say that the world can be sent in one billion painful blow.

And until the outbreak of the crisis – has announced that Dubai last Wednesday a six Dubai World, owned by the government and the Holding Company – Arabian Gulf on loan demand widely month to stop the Arab world as a real success story was identified with.

This is a poll of modernity, high finance and high tech projects, education and culture, from universities and museums are staggering. It attracted international attention and was praised.

Above all, the people of the Gulf Arab region, intelligent, has become a magnet for thousands of educated, and women from other Arab countries, and hundreds of thousands of immigrants to Western tax-free salaries and a comfortable lifestyle to attract are doing. In Dubai alone, said at least 120.000 people are British.

There is no doubt that Dubai is in financial crisis. Many government institutions need restructuring, a process has already begun. His Highness Sheikh Mohammed bin Rashid Al Maktoum rich and is clearly more strongly to work in your hands. Three people were key, and is closely linked with the city, the state of development is excellent, and free from their work are strong. They Dubai World Chairman Sultan Ahmed Bin Sulayem, Emaar, Mohamed Ali, Emaar, vast real estate, and Mohammad Al Gergawi, Chairman of Dubai Holding chairman.

Emirates has clearly grown very rapidly, such as questionable financial feasibility of the 810 meter high skyscraper Burj Dubai boasting projects carried out by taking heavy loans – the highest in the world – and an artificial beach constructed in shallow water island, and miles of luxury villas to provide room for. This, and, especially, sea level rise due to global warming may weaken. In the Gulf region, Dubai and tourism, high grade may be wrong to focus on hot and humid climate light.

One, but not to be pessimistic generation. In my opinion at least, the world very quickly now indicate that the state’s bright city on the verge of bankruptcy. It is far too gloomy prediction. Dubai is no doubt weather the storm. Many properties in many parts of the world, some of which can be monetised quickly.

The main advantage, however, is its location – International trade and economic relations between East and West as a center for – and those who have chosen the quality of living and working there. These assets will be seeing this through.

Traditionally, Iran Dubai, the Gulf region with a short distance closer traded. That billions of dollars worth annually Entrepot trade is possible. But U.S. pressure on international banks to deny loans to Iran ignored this business, and no doubt a factor, a small one if so, in the current financial crisis. Odds with Iran from the west and there a big advantage in Dubai may decide.

In neighboring Abu Dhabi Dubai course important in the future, lies in its relations with a cousin who came in Maktoums Nahayans and Dubai. Although no oil is in Dubai, Abu Dhabi the world’s oil deposits is located on one of the ten 900bn $ heavy sovereign wealth fund is established. 7 immense power of rich Abu Dhabi – United Arab Emirates is.

Abu Dhabi Dubai at the hour of need not have to? Idea is unthinkable. This does not mean that Abu Dhabi Dubai will give a blank Czech. Although no legal responsibility to come to Dubai with the help, and there is every reason to believe that it is so important to end. United Arab Emirates relations with one common, economic, financial and political interests are connected through. If bankruptcy Dubai, Abu Dhabi is not only saved from a violent reaction.

The real question is, why we ask price for Abu Dhabi will save neighbor’s knowledge. Price With economic, political – and this means that Dubai could lose some of their independence, and some of the main property with a portion of the stock is likely to need to run